Page 7 - Sugar

October sugar production falls 14.73% to 405,000 tonnes: NFCSFL data

Sugar production in India, the world's major producer, fell 14.73 per cent year on year to 4.05 lakh tonnes in the first month of the 2022-23 marketing season, according to cooperative body NFCSFL data released on Monday. Mills had manufactured 4.75 lakh tonnes of sugar during October in 2021-22 marketing season. Sugar marketing season runs from October to September. National Federation of Cooperative Sugar Factories Ltd (NFCSFL) has pegged sugar production at 36 million tonnes for the 2022-23 marketing season. According to NFCSFL, the new sugar season has commenced in Maharashtra and Karnataka. The cane crushing operations in Uttar Pradesh and rest of the cane growing states would kick off in a week's time. As per the data, sugar production in Maharasthra remained lower at 80,000 tonnes of sugar till October of the current season, as against 1.40 lakh tonnes in the year-ago period. Similarly, sugar production in Karnataka reached 2.80 lakh tonnes, lower than 3.10 lakh tonnes in t

Centre extends ban on sugar exports; opens door for shipments under quotas

The government has extended restrictions on sugar exports till October 31 next year, a move aimed at increasing availability of the commodity in the domestic market. Earlier, the restrictions were imposed till October 31 this year. "Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged," the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28. However, it said these restrictions will not be applicable on sugar being exported to the EU and the US under CXL and TRQ duty concession quotas. A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quota). India has been the highest producer and the second largest exporter of sugar in the world in the current year.

India's sugar output to be higher at 36.5 mn tonnes in 2022-23: ISMA

India is expected to produce around 36.5 million tonnes of sugar in the new season that began on Oct 1, a leading industry body said on Monday

Sugar producers sign deals in 'golden opportunity' on tight global market

Mills in India, which vies with Brazil as the world's top sugar producer, have so far contracted to export about 1.2 million tons and aim to ship as much as 8 million tons in the 2022-23 year

Govt permits exporters to ship raw sugar to US under TRQ till Dec 31

The government on Wednesday permitted the export of specified quantity of raw sugar to the US under the Tariff-Rate Quota (TRQ) till December-end this year. Earlier, it was permitted till September 30. "The validity for export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a public notice. TRQ is a quota for a volume of exports that enters the US at relatively low tariffs. After the quota reaches its limit, a higher tariff is applicable to additional shipments. In May, the government permitted additional export of 2,051 metric tonne of raw sugar under the TRQ to the US for its fiscal year ending September 30, 2022. With this quantity, total sugar export to the US under TRQ during its fiscal year 2022 would be 10,475 MT. India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as

India emerges as the world's largest producer, consumer of sugar: Govt

India has emerged as the world's largest producer and consumer of sugar and its second largest exporter

Sugar sales, exports likely to decline in UP as consumption comes down

The high production cost of sugar in Uttar Pradesh may adversely impact its export from the state, creating a glut-like-situation in the upcoming cane crushing season

Reduce sugar production, focus on ethanol: Gadkari tells sugar mills

He also argued that the sugar industry should try to create avenues through which ethanol could be sold directly to the automobile industry

Expedite sugar export policy, need to do 8 mn tonnes next yr: ISMA to govt

The apex sugar body has urged the govt to not experiment with a new export system

Govt to announce 2022/23 sugar export quota 'very soon': Food Secretary

He did not disclose the quantity of sugar exports that will be allowed for the 2022-23 marketing year (October-September).

Maharashtra set to produce record sugar levels in new crop season

Higher production will weigh on local prices and may prompt New Delhi to allow sugar exports in the 2022/23 marketing year starting from Oct. 1. Indian exports could weigh on global sugar prices.

Sugar mills object to Centre's move to raise domestic sales quota for Sept

In India, the Central government determines the quantity of sugar that each mill can sell in the domestic market each month which keeps on changing depending upon the demand-supply matrix.

Maharashtra ethanol production expected to reach 1.4 billion litre in 2023

The ethanol production in Maharashtra is likely to reach 140 crore litre next year, sugar industry representatives have said

Govt may allow more sugar exports to prevent defaults on contracts

Any additional exports this year may pressure global prices.

Not so sweet for UP sugar industry as giant Bajaj Hindusthan gets NPA tag

Bajaj Hindusthan badly needs money to shore up its operations but its NPA tag to make raising funds difficult

Lenders tag Bajaj Hindusthan as NPA, debt recast plan under discussion

Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019

ISMA seeks 1 mt of additional sugar exports in 2021-22 season

Cites production increase to 36 million tonnes from 35 million tonnes last season

Sugar mills question export quota allotment; Centre says it's transparent

ISMA ups 2021-22 sugar production estimate to a record 36 million tonnes

Govt issues sugar export release orders for 10 lakh tonnes till June 3

The government has capped sugar exports at 100 lakh tonnes for the 2021-22 marketing year (October-September) with effect from June 1

India's protectionist moves spark concern that rice may be next target

India has stockpiled more than enough rice and prices have been under control