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Sugar prices close lower on huge stocks
Sugar prices rolled down by Rs 70 per quintal at the wholesale market in the national capital today following mounting of stocks on regular supplies but selective buying squeezed the fall. According to marketmen, huge availability of stocks on non-stop supplies from mills mainly pulled down sweetener
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Sugar market rules flat
Sugar market ruled flat on Friday on routine demand, supply and activities. On Thursday 14-5 mills sold about 26,000 bags at ₹3,490-3,550 (₹3,490-3,550) for S-grade and ₹3,580-3,640 ( ₹3,580–3,640) for M-grade.On Bombay Sugar Merchants Association's spot rates were:
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Govt raises ethanol procurement price by 5% for 2017-18
In a boost for the sugar sector, the Cabinet Committee on Economic Affairs (CCEA) has raised the basic ethanol price by five per cent, in a bid to get distilleries to increase their supply of the product to oil marketing companies (OMCs) for blending with petrol.Chaired by Prime Minister Narendra Modi, the CCEA approved a price of Rs 40.85 a litre for procurement season 2017-18 (beginning December 2017), up from Rs 38.97 a litre the previous season. The applicable goods and services tax (GST) of 18 per cent and transport charges would be borne by the OMCs.
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Govt. extends stock limit on sugar traders till Dec to ensure smooth supply
The government today extended the stock limit on sugar traders by another two months till December 2017 to keep prices under control. "Stock limit on dealers of sugar extended up to December 31, 2017, to ensure smooth supply of sugar in the market at reasonable prices," the Department of Food said in a tweet.
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Sugar prices slide on weak demand
Sugar prices came down by Rs 50 per quintal at the wholesale market in the national capital today on slackened demand from stockists and bulk consumers amid ample stocks position on increased supplies from mills.
According to marketmen, besides fading demand from stockists and bulk consumers such as soft-drink and ice-cream makers after the end of festive season coupled with the steady inflow of arrivals from mills mainly pulled down sweetener prices.
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‘Glut, sluggish global demand will not affect sugar prices’
An anticipated production glut and steep decline in global prices may not have an impact on domestic sugar prices in the near term, a rating agency said on Monday. Sugar prices in the country would remain firm in the near term despite the expected increase in output by 20-23 per cent to 24.5-25 million tonnes (mt) during Sugar Year 2018, which commenced this month, rating agency ICRA said in a statement.
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Farmers block tractors to demand better price for sugarcane
Farmers blocked tractors and deflated tyres of another set of such vehicles during separate protests held to demand higher purchase price for sugarcane. A group of farmers in Kolhapur halted tractors supplying harvested sugarcane to a mill, while another group of cultivators deflated tyres of tractors in Solapur district. Both incidents took place on Sunday night.
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CACP proposes Rs 20 per quintal hike in sugarcane FRP for next season
sugarcane at Rs 275 per quintal for next season, a government official said. The fair and remunerative price (FRP), the minimum price sugar mills have to pay to farmers, has been fixed at Rs 255 per quintal for the 2017-18 season that starts from this month. "For the next 2018-19 season, the CACP has proposed Rs 275 per quintal FRP for sugarcane factoring (in) cost of production, transportation and crop insurance premium and other expenses," the official told PTI.
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3 pc hike in state advisory price of sugarcane in UP
The Uttar Pradesh government has hiked state advisory price (SAP) of sugarcane for 2017-18 crushing season by about 3 per cent. "The decision was taken by Chief Minister Yogi Adityanath. The government has increased SAP by Rs 10 per quintal for different varieties of the crop," an official spokesman said here today.
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Sugar prices settle quiet on some support
Sugar prices settled quiet at the wholesale market in the national capital today with prices by and large after hovering both ends on little bouts buying and selling, pegged same on last levels. Marketmen said small buying support along with adequate stocks managed to kept sweetener prices unaltered.
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A political battle on rates is slowly simmering in sugarcane heartland
The politics of sugarcane price fixation is slowly rearing up its ugly head as the key sugar producing states of Maharashtra and Uttar Pradesh gear up for the production season in November. Uttar Pradesh and Maharashtra, the largest and second largest producers of sugar respectively, will begin their 2017-18 crushing season in November.
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Sugar prices to decline as UP, Maharashtra begin cane crushing
Sugar prices are likely to decline by five per cent with the arrival of new-season output. Crushing of new-season cane is scheduled to begin this week, with dozens of mills in Uttar Pradesh starting the procuring from farmers. The first of this sugar is scheduled to hit the market by the end of this month.
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