South India's sugar production hit by drought
The Dollar Business Bureau Even though sugar demand is expected to decline by 3%-4%, prices are likely to firm up due to record low production estimates in the current year. A prolonged drought in the sugar producing regions of Maharashtra, Karnataka and Tamil Nadu; the second, third and fourth largest sugar producing states of India respectively; has caused productivity to take a serious hit. Indian Sugar Mills Association (ISMA) estimates a 40% - 50% decline in the yield from sugarcane fields during the season ending September 2017. The state of Maharashtra, which had produced 84.2 lakh tonnes of sugar in the previous season, is estimated to contribute merely 42 lakh tonnes to the nation's sugar output in the current season. This is deemed to be the lowest recorded output for the ...
Sugar export from India increases, though the production is expected to fall
The Dollar Business Bureau India’s sugar exports have increased even though the production of the same has seen a considerable low. The second largest producer of sugar in the world is likely to see an increase of more than 80% at 20 lakhs tonnes in the year 2015-16. However, the production of sugar in the marketing year is expected to see a decrease of 9%. The increase in sugar exports and the toughening of international prices for sugar would help sugarcane mill owners to settle their sugarcane arrears. The exports contracts received by the mills is for 14 lakhs tonnes since October. However, there are chances of shipping another five to six lakh tonnes by the end of September. The Indian ...
Government intervenes to unclog payment of arrears to cane farmers
Source: PIB, Government of India To help the industry clear its cane dues arrears, the Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi today approved the proposal to provide soft loans to the extent of Rs. 6000 crore to the sugar industry. CCEA has provided a one year moratorium on this loan, and will bear the interest subvention cost to the extent of Rs. 600 crore for the said period. To ensure that farmers are paid their dues expeditiously, the Government has mandated that banks will obtain from the sugar mill, the list of farmers with bank account details to the extent cane dues are to be paid, so that the same are directly paid into ...
