Dalmia Bharat Sugar surrenders raw sugar import quota.
Ram Gopal Yadav (7 years ago)

Dalmia Bharat Sugar and Industries Ltd has surrendered the quota allocated to it by the Directorate General of Foreign Trade for import of raw sugar. The mill has surrendered the quota as the quantity allocated to it was very small and thus import would be unviable. Running refineries for just seven-to-eight days of operations is not viable. Dalmia Bharat Sugar had applied for 100,000 tonne raw sugar–50,000 tonne each from the east zone and the south zone. The government considered monthly refining capacity of mills, quantity applied, and number of applications within a zone while considering requests for raw sugar import. Such a small quantity that too from two different ports would not be viable. Dalmia (Bharat Sugar) had opted out of the quota before Apr 28, and license has not been issued to it. If an pplicant fails to bring in sugar after obtaining a licence, they would have to pay a penalty of 0.5% of the value of the unutilised quota.

Sugar Up in Maharashtra on rise in demand, unchanged in north India.
Ram Gopal Yadav (7 years ago)

Prices of sugar rose in the key wholesale of markets of Maharashtra due to an increase in demand from bulk and retail buyers. Medium-grade sugar was sold up 7 rupees from previous close. Prices remained unchanged in Delhi and Muzaffarnagar amid thin trade. Demand has risen as stockists are replenishing their stocks. In Maharashtra, where prices had fallen for the past one week, demand also rose due to buying at lower price levels. Traders, however, are bearish on prices in the near-to-medium term. Demand not sustain for too long. It remains high only for this week. Prices in Maharashtra are also expected to fall as the selling pressure on mills is expected to increase once the imports come in.

Uttar Pradesh Oct 1-May 1 sugar output 8.7 million tonne, up 28% on year.
Ram Gopal Yadav (7 years ago)

Mills across Uttar Pradesh produced 8.70 million tonne of sugar during Oct 1-May 1, up 28% from a year ago. The state had produced 6.80 million tonne sugar during the corresponding period a year ago. Mills in the state have crushed 82.04 million tonne cane so far, compared with 64.08 million tonne in the year-ago period. Average sugar recovery in Uttar Pradesh as of Monday was 10.61%, slightly higher than 10.60% a year ago. Of the 116 sugar mills in the state that started cane crushing operations this year, 102 mills have wound up the process so far. With some mills in Uttar Pradesh still operating. Market participants expect output of the sweetener in the state this season to touch an all-time high of 8.80 million tonne, surpassing the previous high of 8.47 million tonne in 2006-07.

Spot sugar prices rise on improved demand.
Ram Gopal Yadav (7 years ago)

Prices of sugar rose in the key wholesale markets of Muzaffarnagar and Mumbai, as demand for the sweetener improved at low prices, and as Stuckists sought to replenish inventories at the start of the month. In Muzaffarnagar and Delhi, sugar was sold up 10 rupees from previous close. In Mumbai, sugar was sold up 5 rupees from Monday. In Maharashtra, where prices had fallen for the last one week, demand also rose due to buying at lower price levels. In north India, soaring prices are unlikely to sustain due to record high sugar output in Uttar Pradesh. Mills across Uttar Pradesh produced 8.70 million tonne of sugar during Oct 1-May 1, up 28% from a year ago. The government had on Apr 5 allowed duty-free import of 500,000 tonne of raw sugar under the tariff rate quota. The most-active May contract was up 0.2%.

ICE raw sugar up 1% due to lower output in Brazil.
Ram Gopal Yadav (7 years ago)

Futures contracts of raw sugar on the ICE rose over 1% due to a decline in production in Brazil Centre-South region in the first half of April. The contracts had declined to a 12-month low last week. the July contract was up 1.1% from the previous close. Mills in Brazil Centre-South region produced 704,000 tonne of sugar during the first fortnight of April, down 51% from a year ago. The sharp fall in sugar output could be attributed to lower grinding and a reduction observed in the production mix.