Bearish trend in sugar market
The sugar market witnessed a bearish trend on Tuesday on higher selling pressure amidst need-based demand. On Monday, about 16 mills sold 18,000-20,000 bags at ₹2,950-3,020 for S-grade and ₹3,040-3,120 for M-grade.
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Impact of govt’s Rs 8,500-cr sugar bailout package
This week we discuss two issues on our show macro@moneycontrol.
The Cabinet on June 6 approved a Rs 8,500-crore bailout package for the sugar industry which includes Rs 4,500 crore soft loan for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply.
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MPs call for serious probe on fake sugar
MPs have demanded thorough investigations into those involved in the contraband sugar business in the country.
This comes as National Assembly Majority Leader Aden Duale (Garissa Township) promised to provide details of those behind the illicit trade.
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Maharashtra cooperative bank raises sugar valuations to Rs 2,900 per quintal
The Maharashtra State Cooperative Bank (MSCB), the apex cooperative bank of the state, has decided to increase sugar valuations to Rs 2,900 per quintal, keeping in mind the Minimum Floor Price (MFP) decided by the Centre.
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Mills cut sugar exports as local prices rally
India is likely to export around 500,000 tonnes or just a quarter of the volume mandated by the government for overseas sales in the 2017-18 season amid higher prices at home, industry officials told Reuters.
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Govt to subsidise finance and insurance cost for sugar buffer stock
Charges will be reimbursed to mills at Rs 29 per kg of sugar price, as opposed to the all-India average cost of production of Rs 35-36 a kg
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Indian mills slash sugar exports as local prices rally
Lower shipments from the world's second-biggest sugar producer could support global prices, but would increase India's opening stocks for the next marketing season when output is expected to surge to a record.
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Mahua goes mainstream: Goa’s alcohol man taps into flower power
If everything Midas touched turned to gold, in the case of the 60-something Desmond Nazareth, everything he touches, including, agave, sugarcane and now mahua, seems to transform into distilled alcohol.
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Select sugar prices up on scattered millers’ buying
Select millgate sugar prices rose by up to Rs 60 per quintal at the wholesale market in the national capital today on mild enquiries from millers.
Marketmen said rise in prices of their products by some millers mainly pushed up select millgate sugar prices.
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GST Council’s bitter sugar cess
The sugar industry is in the middle of a severe crisis. The surplus production of sugarcane has led to a downward spiral in the price of sugar. Mill owners are in need of financial assistance, causing them to default on dues to farmers.
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