Maharashtra may revive 40 defunct cooperative sugar mills.
Ram Gopal Yadav (9 years ago)

The Maharashtra government may look to revive at least 40 non-functional cooperative sugar mills in the state possibly by acquiring and leasing them out. Government has formed a committee under the chairmanship of State Sugar Commissioner Sambhaji Kadu-Patil to conduct a financial and technical evaluation of the assets of these shuttered sugar factories. The committee has been asked to submit its report before Sep 20. Maharashtra has 175 cooperative sugar factories, out of which 93 are functional, 33 has been already acquired under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and six have been sold by government.

Centre-South Brazil Aug 16-31 sugar output 2.5 million tonne, down 0.5% YoY.
Ram Gopal Yadav (9 years ago)

Mills in Brazil Centre-South region produced 2.54 million tonne of sugar in the second fortonneight of August, down 0.5% compared with 2.55 million tonne produced in the year-ago period. Centre-South Brazil accounts for over 90% of the country’s total sugar output. Mills in the region crushed 38.91 million tonne of cane during Aug 16-31, up 0.8% on year. In Apr-Aug, mills crushed 381.52 million tonne of cane, down 3.6% on year. During the same period, mills produced 23.26 million tonne sugar, up 3.4% on year. Mills in the Centre-South region also produced 15.29 bln ltr of ethanol during the period compared with 16.54 bln ltr in the year-ago period. Of the total cane crushed, around 48.5% was used for sugar production, while 51.5% was used to make ethanol.

Karnataka pegs 2017 tur crop down 45% at 663,000 tonne.
Ram Gopal Yadav (9 years ago)

Production of tur in Karnataka is estimated to have declined 45% on year to 663,000 tonne in kharif season due to sharp fall in acreage and yield. In 2016-17, tur prices had slipped below minimum support price because of a record high output, which prompted farmers to shift to cotton sowing from tur in the current kharif season.

MMTC invites bids for sale of 8,266 tonne tur, 2,963 tonne urad.
Ram Gopal Yadav (9 years ago)

MMTC Ltd has floated a tender to sell 4,211 tonne imported tur from the 2016 Malawi, Mozambique crop and 2,963 tonne urad from the 2016 Yangon, Myanmar crop. The tur and urad are lying at the Central Warehousing Corp in Virungambakkam and Madhavaram in Chennai and National Collateral Management Services Ltd’s M.K, Balaji and PKC warehouses. Bids must be submitted on Sep 19, and opened the same day. The bids remain valid for acceptance till Sep 25. In another tender, MMTC invited bids for sale of 4,055.64 tonne imported tur from Africa and 2,491.56 tonne red lentils imported from Canada.

ABARES pegs Australia 2017-18 chana crop at 1.2 million tonne, down 36% YoY.
Ram Gopal Yadav (9 years ago)

Australia chana production is seen declining 36% on year to 1.19 million tonne in 2017-18 due to a fall in average yield. Although area under chana cultivation is estimated to increase by 4.5% to 1.1 million ha in 2017-18, production is expected to fall as rainfall was below average in the most cropping regions in June and was highly variable in July and August. Most of Australia’s chana is exported to India. In the year ended June, Australia sold a record 1.1 million tonne chana to India. The country’s chana exports to India are likely to fall to 0.8-1.0 million tonne in 2017-18 (Jul-Jun), as Australia’s chana crop is expected to be much smaller on year.

India Sugar prices fall more in north on weak demand.
Ram Gopal Yadav (9 years ago)

Prices of sugar continued to fall in the key wholesale markets of north India due to sluggish demand from bulk buyers. Most importantly, there is no demand. Also, production of sugar in Uttar Pradesh is expected to be higher next year. Sugar output in Uttar Pradesh is likely to rise to a record 10.3 million tonne in the next season starting October from 8.8 million tonne year ago. In the key wholesale markets of Maharashtra, sugar prices were largely unchanged amid lacklustre trade.

ICRA says sugar import at 25% duty may not pull-down prices.
Ram Gopal Yadav (9 years ago)

The government decision to allow import of 300,000 tonne of sugar at a concessional duty of 25% is unlikely to have any significant negative impact on prices of the sweetener in the near term, as the quantum of import permitted is very small. Including the 300,000 tonne of imported sugar, the closing stocks for current season are estimated to be around 4.7 million tonne, which would just be sufficient to meet the requirement of around two months of domestic consumption. The expected carryover stock for 2017-18 was lower than the normative stock level of three months–around 6 million tonne–and last year’s closing stock of 7.8 million tonne. The move to allow imports might also benefit the sugar mills based in west and south India, which are currently under profitability pressure due to low availability of cane.