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Sugar mills continue to face liquidity crunch
February 03, 2021
Currently about 85-90% of revenue generated by sugar mills is spent towards cane payment
Sugar mills in India are certain to face liquidity crunch for at least the next three months. The opening balance of 107 lakh tonnes (lt) of sugar stock this season has blocked massive working capital of about ₹35,000 crore and most cash flow from sugar exports is likely in May-June.
According to the Indian Sugar Mill Association (ISMA), currently about 85-90 per cent of the revenue generated by sugar mills is spent towards cane payment, due to which about ₹93,000-94,000 crore of cane price is payable to farmers in the current season.
Three states to divert more sugar for ethanol
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Quantity higher than last season: ISMA
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Quantity higher than last season: ISMA
Major sugar producing States Uttar Pradesh, Maharashtra and Karnataka are expected to see mills diverting a higher quantity of the commodity for ethanol production this season (October 2020 to September 2021) compared with the previous year.
A press release from the Indian Sugar Mills’ Association (ISMA) said that the sugar mills in Uttar Pradesh are estimated to divert 6.74 lakh tonnes of sugar, by way of B heavy molasses and sugarcane juice for ethanol production this season as against 3.70 lakh tonnes in 2019-2020.