Indian sugar exporters strike new deals after CCEA clears Rs 6,000 per tonne incentive
The deals have been struck at a premium of 130-140 cents a pound over New York price for raw sugar. December 23, 2020 / 09:15 PM IST
Indian exporters have struck a few deals for sugar exports after the Cabinet Committee on Economic Affairs (CCEA) on December 16 decided to give Rs 6,000 per tonne incentive for the commodity’s shipments.
The deals have been struck after sugar exports had almost come to a standstill for the two-and-a-half months since October 1 this year. The incentive, costing the Union government Rs 3,500 crore, would help export 60 lakh tonnes of sugar for the current season ending September next year.
ISMA asks for extension of December sale quota of sugar
The move comes even as mills have started selling sugar below the government declared Minimum Selling Price (MSP) of Rs 3,100 per quintal. December 23, 2020 10:35:23 pm
Two months into the ongoing sugarcane crushing season, low sugar sales have stumped millers who are hard-pressed for funds to pay the fair and remunerative price (FRP) for cane purchased from farmers.
Concerned over the low sale of sugar, the Indian Sugar Mills Association (ISMA) has asked for an extension of the December’s sale quota and a smaller quota in January. The move comes even as mills have started selling sugar below the government declared Minimum Selling Price (MSP) of Rs 3,100 per quintal.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
This product is a monthly auto renewal product.
Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
Sugar demand still low, dues pending, Maharashtra mills report distress sales
Bhairavnath B Thombare, president of the West Indian Sugar Mills Association, the apex body representing private sugar millers in the state, said mills are resorting to distress sales due to the large dues they owe to farmers. Updated: December 22, 2020 8:21:11 am
Farmers say government’s export scheme came too late. (File)
AMID the continuing low demand for sugar, mills in Maharashtra have started reporting distress sales two months into the sugarcane crushing season of 2020-21, with some selling below the government notified Minimum Selling Price (MSP) of Rs 3,100 per quintal.
Govt rules out reducing sugarcane price; asks sugar mills not to depend on central subsidies financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.