Search Result for : Sugarcane

The Dollar Business Bureau With good monsoon rains and various policy initiatives by the Government, India’s overall production of food grain to be increased by 2.3 million tonne to an all-time high of 275.68 million tonnes in the crop year 2016-17, according to the fourth advance estimates released by the Agriculture Ministry on Wednesday. Record production has been achieved in wheat, rice, pulses and coarse cereals in the crop year that ended in June.  The previous record of food grain production was 265.04 million tonnes, achieved in the crop year 2013-14 (July-June). However, the output had dropped to 251.57 million tonnes in crop year 2015-16.  “As a result of very good rainfall during monsoon 2016 and various policy initiatives taken by the Government, India ...

The Dollar Business Bureau Agriculture Secretary Shobhana K Pattanayak said on Saturday that the foodgrain production in the ongoing kharif season 2017-18 is expected to exceed last year's record output of 138.04 million tonnes on account of higher sowing area and good monsoon.  Till now, more than 80% of the sowing of kharif crops such as pulses, paddy, cotton, oilseeds, jute and sugarcane, has been completed and the sowing will continue in some regions until next month, he told PTI.  Crop area of around 19 lakh hectare across the country has been impacted by floods and farmers are expected to take up other crops in the season once the water goes down, Pattanayak said. He also expressed concerns about poor rainfall in ...

The Dollar Business Bureau The government is likely to increase the duty on the import of sugar to 60% from the present 40% in order to control the cheap imports and to maintain local prices.  Any decline in the domestic prices of sugar will impact the millers' capacity to pay sugarcane dues to farmers. In the wake of lower sugar production expected during the current marketing year of 2016-17, the government, in April, had permitted 5 lakh tonnes of raw sugar import at zero duty in order to boost local supply.  “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising the import duty,” ...

The Dollar Business Bureau With an 11% hike in the fair and remunerative price (FRP) of sugarcane, there could be a rise in the retail prices of sugar, industry body National Federation of Cooperative Sugar Factories (NFCSF) said. As per official data presently sugar’s retail prices are at Rs 40-45 per kg. In its public release on Wednesday the government stated that “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per quintal (qt) for sugar season 2017-18 linked to a basic recovery rate of 9.5% subject to a premium of Rs. 2.68 per quintal for every 0.1% point increase ...

The Dollar Business Bureau  The Cabinet has approved an increase in sugarcane’s fair and remunerative price (FRP) by Rs.25 a quintal to Rs.255 for the season 2017-18 starting from October. In this regard, a decision was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting in New Delhi on Wednesday. The FRP is the lowest price that is legally guaranteed to the sugarcane farmers. On the other hand, the state governments can also set their own state-advised price (SAP) and the mill owners can offer a price more than the FRP. “Sugar mills situation has improved. For 2017-18, sugarcane FRP of Rs.255 per quintal has been approved, which is 10.6% higher than the current level,” Finance Minister Arun Jaitley told journalists after the Cabinet meeting. The sugarcane prices are associated with ...

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 ...

The Dollar Business Bureau The Ministry of Agriculture has released the second production estimates of foodgrains for the crop year ending 2016-17 (July-June). A fairly good monsoon after two consecutive years of sparse rainfall has boosted production estimates to record levels of 271.98 mt (million tonnes). This year's forecast beats the highest foodgrains production record of 265.04 mt achieved in 2013-14 by 6.94 mt. There is an 8% increase in comparison to last year's (2015-16) production levels which stood at 251.57 mt. The current year's estimate is higher than the average foodgrain production in the last five years (2011-2012 to 2015-16) by 14.97 mt. Rice, pulses, wheat, maize, tur, urad, oilseeds and coarse cereals are the categories that are likely to achieve record production this year. Sugarcane and Jute & Mesta production is likely to reduce, according to a report released by the Ministry of Agriculture. The foodgrains basket is inclusive ...

The Dollar Business Bureau The Indian Department of Agriculture and Production on Wednesday released the 2nd advanced estimates of the major crop production for the FY2014-15. The food grains production stood top among the other crop estimates for the year, followed by oil seeds, cotton and sugarcane. According to the statistics, the food grain production during FY2014-15 was estimated at 257.07 million tonnes, which is the fourth highest quantity of annual food grains production in the country. The increased food grains production will definitely come as a challenge for the Food Corporation of India in storage allocation and might also challenge the government’s decision to offload the excess stocks. However, the estimated food grain production for FY2014-15 is lower than 265.57 ...