Cabinet clears ₹7,000-cr bailout package for sugar industry
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared a ₹7,000 crore bailout package for the cash-starved sugar industry, which includes the creation of a 3-million-tonne sugar stockpile and subsidised loans for the enhancement of the country’s ethanol production capacity .
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Government plans 70 billion rupee bailout for sugar mills: Times of India
(Reuters) - The government is likely to announce a bailout package of more than over 70 billion rupees ($1.04 billion) to the cash-starved sugar mills to help clear dues to farmers, the Times of India reported on Monday, citing the Press Trust of India.
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Govt. to support sugarcane farmers with over Rs. 8000 cr package
In order to improve the liquidity of sugar industry and support the cane farmers, the government will be coming up with a comprehensive package of more than Rs.8000 crore, as per government sources.
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Govt likely to announce Rs 7,000cr bailout package to sugar mills as cane arrears mount
Concerned over mounting cane arrears of more than Rs 22,000 crore, the government is likely to announce a bailout package of over Rs 7,000 crore to ensure cash-starved mills clear dues to farmers at the earliest, sources said.
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Oversupply to keep sugar prices under pressure: Icra
The oversupply scenario in sugar continues to put pressure on prices, which touched a low of Rs 27,500 per tonne in mid-May 2018, a report said.
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Sugar up by Rs 100 per quintal on paucity of stocks
Sugar prices soared by up to Rs 100 per quintal at the wholesale market in the national capital today following aggressive buying by stockists and bulk consumers amid scarcity of stocks.
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Cane dues: UP government writes to food ministry on fixing ex-factory rate
As per the average recovery in the state, the cane price comes to Rs 292 per quintal, while a majority of the mills in the state is clocking a recovery of 12.35%, based on which the cane price comes to Rs 331 per quintal.
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As prices turn unremunerative, UP mills to skip 2018-19 season
PUNE: As sugar prices continue to remain non-remunerative, the Uttar Pradesh sugar industry has conveyed to the state government that it sees no future and is unable to run for sugarNSE -2.98 % season 2018-19. It will not participate in the field survey and other activities related to the 2018-19 season
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The ailing sugar sector and fall of Solapur’s bank
The 100-year-old Solapur DCCB sits at the top of the cooperative credit disbursal pyramid of the district.
A few weeks back, the Reserve Bank of India (RBI), took an extreme step of superseding the Board of Directors of the Solapur District Central Cooperative Bank (DCCB) and hand over the charge of the bank to the district deputy
registrar. The decision was taken because of the rising Non Performing Assets (NPA) of the bank that had threatened the financial health of the cooperative bank. With more than Rs 545 crores in non-recovered loans, Solapur DCCBs problems has much to do with the ailing sugar sector of the region
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News Wrap: Centre mulls building 3-mt sugar buffer
The Centre may create a 3-million-tonne sugar buffer stock to help sugar mills tide over the crisis triggered by overproduction, Food Minister Ram Vilas Paswan said last week. The glut in sugar production during the current 2017-18 season (September-October) has led to the sweetener’s price crashing to levels below cost of production
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