Month: September 2017

Dwarikesh Sugar Industries expects a 15 per cent increase in production leading to higher revenues during the forthcoming crushing season. If the weather holds, the plants located in Bijnor and Bareilly (UP) would better the recovery rates. If not, at least sustain similar rates. The firm total and net revenues increased by 70 per cent from ₹306.1 crore and ₹289.7 crore in the first quarter of fiscal 2017 to ₹522 crores and ₹493.6 crore, respectively, in the first quarter of fiscal 2018.

The prices of sugar fell in the key wholesale markets of the country amid increased selling pressure on mills. Millers are quoting lower prices as there is no demand at current price levels despite it being the festival season. Mills also have to adhere to stock limits. Demand for the sweetener has been low since the beginning of the month. There is only hand-to-mouth demand as crushing season is nearing and there is fear of government action in case prices rise.

Sugar mills in Maharashtra have decided to start cane crushing operations for the 2017-18 (Oct-Sep) season from Nov 1, putting to rest speculation about an early start to crushing operations. Among other decisions, the state pursue restructuring of 61 billion rupees worth of outstanding loans of 90 cooperative sugar mills with the Centre. The ban on export of sugarcane may have been taken in the wake of sharp fall in output in the neighboring north Karnataka. Also, Maharashtra wants to raise the longevity of crushing season with an intention to raise the output. The state government expects to crush over 65 million tonne of sugarcane to produce 7.3 million tonne sugar in the year starting Oct 1. This year, sugar output was at 4.2 million tonne.