Search Result for : Sugar Mills

The Dollar Business Bureau In order to prevent hoarding of sugar and to check the prices during the upcoming festive season, the Government on Tuesday imposed limit on stock holding on sugar producers for September and October. “In exercise of the powers conferred by section 3 of the Essential Commodities Act, 1955 (10 of 1955) read with the clause 5 of the Sugar (Control) Order, 1966, the Central Government hereby directs that no producer of sugar shall hold any stock of sugar in excess of quantities,” said Ministry of Consumer Affairs, Food & Public Distribution said in a notification. By the end of September, sugar mills will not be permitted to stock more than 21% of the total sugar available with them during ...

PTI In an effort to end the miseries of potato growers in Uttar Pradesh, the state government today decided to purchase one lakh metric tonnes of potato from farmers at Rs 487 per quintal. "Government aims at giving adequate price to potato growers, if we cannot give them profit, we want to give them price of their produce," Cabinet minister Shrikant Sharma told reporters after a meeting of the state cabinet. There have been reports that the potato farmers in the state were unable to get a proper price for their produce because of the presence of intermediaries. Services of four agencies including a central and state agency will be availed of for purchase of potato, he said. ...

The Dollar Business Bureau The prices of sugar are likely to remain under pressure due to the estimated gap of supply of about 3.5-4 million tonnes in the marketing year starting October, said Sharad Pawar, former Agriculture Minister. The Nationalist Congress Party supremo, Pawar, also asked the industry to brace up for government’s action, including likely import of raw sugar to meet the demands of domestic consumers and keep the prices in check. Pawar, while addressing the 74th annual convention of Sugar Technologists Association of India, stated that the gap in demand and supply may keep the prices under pressure. While sugar production this year was good, a similar situation is not visible for the marketing year 2016-2017, he added. Currently, the prices ...

The Dollar Business Bureau India’s proposed duty of 25 percent on sugar exports, with an aim to maintain domestic supplies, can increase opportunities for country’s refiners, who are not subjected to the levy unlike mill owners. This enables them to sell their produce to countries like Sri Lanka and Myanmar. India’s total sugar production is likely to register a significant decline this year due to droughts in many sugar-growing states including Maharashtra and Karnataka. Local traders said global sugar refining margins have declined after raw sugar deficit, driven by a shift in the world market. Margins may recover as low quality of white sugar exports from mills may stop following the duty on sugar export. “The duty on exports will be applied only for local ...

The Dollar Business Bureau The Government of India is likely to revoke its order on compulsory export of 3.2 million tonnes sugar this sugar season. It is also planning to reduce the import duty to keep the sugar prices under control. The government had asked sugar mills to export 3.2 million tonnes of export surplus stock, this marketing year in the Indian market. Till now only 1.4 million tonnes of sugar has been exported and by the end of the season it may reach 1.5 million tonnes as the exports have almost stopped. According to a source, the merchants are not exporting sugar due to the low prices in global market. In spite of the policy decision, the government needs to encourage ...

Indian sugar mills want to reach at least 3.2 million tonnes in terms of exporting but will be at 2 million tonnesin the current period The Dollar Business Bureau Indian sugar mills are concentrating on the export of white sugar to Myanmar due to a strong demand.   Fueled bya recent hike in global prices of sugar, Indian sugar mills based out of Maharashtra have inked high volume export deals this week, the first in nearly two months. The deals are seen as a major shot in the arm for Indias beleaguered sugar exports sector that has of late, witnessed a not so promising performance vis a vis other world players. What is worth noting is that export prices for sugar in world markets are ...

The Dollar Business Bureau The subsidy shall be paid directly to the farmers on behalf of the mills and be adjusted against the cane price payable to the farmers towards Fair Remunerative Price (FRP) including arrears relating to previous years     As part of measures to ensure better market support to the sugar industry, the government on Wednesday announced production-linked subsidy of Rs.4.50 per quintal to cane farmers during 2015-16 season to help cash-starved sugar mills clear arrears. The move that would cost the exchequer of about Rs.1, 147 crore is also expected to help liquidate sugar stocks and meet the export target to the extent of 80%. “The subsidy shall be paid directly to the farmers on behalf of ...

The Dollar Business Bureau Indian sugar firms, under the preferential quota, exported 6,101 tonnes to the European Union and 8,071 tonnes to the United States of America (USA) till July, said Commerce and Industry Minister Nirmala Sitharaman. According to the Minister, companies that exported sugar under preferential quota during the sugar season 2014-15, included Pure Diets India, Suminter India Organics, Shree Renuka Sugars Ltd, among others. The Minister said that the government had amended the policy of export on preferential quota sugar to the EU and the US, under which, exports are permitted on low tariffs and post the quota limit, a higher tariff is applied on additional exports. The government’s decision to amend policy of export of preferential quota sugar was taken on account of liberalization of ...