Read more about Sugar production up 13% to 30.56 million tonnes during Oct 2020-May 2021 on Business Standard. Sugar production rose by 13% to 30.56 million tonnes in the first eight months of the current marketing year ending September, mainly due to higher output in Maharashtra, according to trade data
India to play key role in higher global sugar output next season
May 27, 2021
But it could result in higher ending stocks, Thailand production set to rebound: USDA
India will play a significant role in 2021-22 season’s global sugar production increasing by six million tonnes (mt) but it could also result in the country carrying over huge stocks to the following season, according to the US Department of Agriculture (USDA).
While the sugar trade in the county agrees with this view, the industry, particularly private mills, think it is too early to talk about the next season.
The USDA also projects India’s sugar exports remaining at the current season’s level of six mt but the trade and industry see various factors deciding the shipments scenario.
Oil companies, sugar mills work in sync to put India’s ethanol blending programme on track
May 23, 2021
318 crore litres of ethanol have been contracted for supply during the current ethanol year
India seems to be on track with its ambitious plan to blend up to 20 per cent ethanol in petrol. In April, public sector oil refiners-cum-retailers have been able to achieve an ethanol blending of 7.63 per cent at the national level. In fact, as many as 11 States across the country have managed to touch 10 per cent blending.
A party pooper
According to Abinash Verma, Director General of Indian Sugar Mills Association (ISMA), till last week, 318 crore litres of ethanol have been contracted for supply during the current ethanol year (December 2020 to November 2021). Butthe recent drop in petrol consumption has been a party spoiler.
India cuts subsidy on sugar exports by a third to ₹4 a kg
May 20, 2021
Decision comes in the wake of higher sugar prices in the global market The government on Thursday reduced incentives available on sugar exports by one-third to ₹4,000 per tonne in the current sugar season, but the move will have only a limited impact as sugar mills have either exported or contracts are signed for more than 95 per cent of 60 lakh tonnes quota decided by the government.
The government took the decision to reduce the export subsidy because of high sugar prices in the global market.
According to a notification signed by Sugar Secretary Subodh Kumar Singh, now on the mills will get only ₹4,000 – ₹2,400 for internal transport and freight charges and ₹1,600 for ocean freight – per tonne as “assistance on export of sugar” as against the earlier ₹6,000 per tonne. The notification will be applicable for export contracts signed on Thursday or alter, it said.