Output of the oilseed in the state for kharif season is estimated to be higher because of adequate and timely rainfall with no reports of crop disease. Output of groundnut in the state in 2016-17 kharif was also at a high of 2.94 metric tonne. Output of groundnut in the state in 2016-17 kharif was also at a high of 2.94 metric tonne. Meanwhile, carryover stocks of the oilseed as of September end are estimated at around 160,000 metric tonne. The association also sees lower export of groundnut seed and oil in Oct-Sep because of disparity in the international market.
Sugar mills hoping for recovery in ethanol blending with petrol this year.
After slowing down to a mere 2.5 per cent last year, sugar mills are hoping for a recovery in ethanol blending with petrol this year, due to a significant increase in cane output and thereby proportionate improvement in the availability of extra-neutral of alcohol (ENA). ENA is a derivative of sugar manufacturing and a pre-form of ethanol.
Dwarikesh sugar expects 12-15% increase in crushing & production numbers.
With the festive season upon us and as the new crushing season begins later this month, the sugar stocks are in focus. Dwarikesh Sugar Commenced this quarter with opening stock of 9.78 lakh quintals of sugar and have already sold nearly 8.5 lakh quintals. The sales have been brisk and the average price of sugar for the quarter has been around Rs 36.50- 36.75 per kg. For the new sugar season expect a 12-15 percent increase in crushing numbers and a similar increase in production. For the last year the company produced 33 lakh quintals of sugar. ISMA has estimated output is at 25 million tonnes for the year.
Up govt. to set up new sugar mills, modernise older ones.
New sugar mills soon be set up and the present ones revamped and modernised to help the sugarcane farmers in the state.
Sugar prices up in north India on festival demand.
Prices of sugar were up in the key wholesale markets of north India amid increased bulk demand. Even though the sentiment for the coming days is bearish due to onset of crushing season, brisk spot buying ahead of Diwali has supported prices.
Soybean prices fall in Indore as arrivals increase.
Prices of soybean fell in the key wholesale market of Indore due to a rise in arrivals. Poor demand for domestic soyoil, a derivative of soybean, has also hit demand for the oilseed, further weighing on the prices.