Sugar

Sugarcane farmers stir turns violent in Ahmadnagar.

India sugar prices fall as demand remains weak, supply rises.

Surplus sugarcane crop sends molasses price crashing in UP.

India sugar prices down in key spot markets, outlook bearish.

Punjab govt fixes cane SAP Of Rs 2900/MT (9.5% recovery rate) for 2017-18.

In U.P. 75 mills starts cane crushing in current season.

EU sugar reform will cause sugar prices to fall.

Singapore based Agrocorp wins Bangladesh tender to supply 0.5 MT of sugar at $465.3/T.

Delhi sugar prices drop on ample stocks.

India sugar production likely to bounce back from 7-year low.

Thailand raw sugar cash premiums under pressure from higher futures.

Sugar prices are likely to decline by five per cent with the arrival of new-season output. Crushing of new-season cane is scheduled to begin this week, with dozens of mills in Uttar Pradesh starting the procuring from farmers. The first of this sugar is scheduled to hit the market by the end of this month. The carryover stock of cane for the new sugar year (it began on October 1) is about four million tonnes. The market expects a rise in sugar output of 24 per cent this year.

Marketing of sugar by the mills this season may see an important change with the National Federation of Cooperative Sugar Factories (NFCSF) and the Indian Sugar Mills Association (ISMA) jointly introducing an online platform. This platform allows millers to float their tenders online and buyers from across the country able to access the same.

Chief Minister Manohar Lal Khattar announced a hike of Rs 10 per quintal, from Rs 320 to Rs 330, in the state advisory price (SAP) of sugarcane. This benefit farmers to the tune of Rs 86 crore.

Raw sugar futures fell as speculative selling emerged against a backdrop of a weaker Brazilian currency, while a weaker British pound boosted London cocoa prices. March raw sugar was down 0.10 cent, or 0.7 percent, at 14.08 cents per lb, reversing earlier gains as the Brazilian real resumed its downtrend.

Prices of sugar fell in the key wholesale markets of Maharashtra due to increased selling pressure on mills. Cane crushing season is about to begin, so, mills have to pay farmers for the sugarcane they buy so, have selling pressure right now.

Delta Sugars Limited (DSL) is all set to down the shutters from the coming cane crushing season that begins in early December, leaving above 2,000 farmers and 350 workers to their fate. The factory management has announced last week that it had decided to shut the factory, owing to above ₹120 crores of loss in the present fiscal.

Sugar mills in up have delayed cane crushing as they are sitting on large stock of molasses. At the beginning of the month, mills were carrying around 10 million litre molasses stock with them posing a problem of storage as the new crushing season result in more addition to the existing inventory.

Brazilian mills increased the amount of cane used for ethanol production in the first half of October, and reduced sugar output, taking advantage of better pricing for the biofuel as sugar prices remain weak. Mills in the center-south region, increased the amount of cane they used to produce ethanol to 56 percent in the first half of this month from 53 percent late in September and compared with 50 percent early in October last year. Sugar production of 1.97 million tonnes in the first half of October was 12.2 percent lower than in the same period a year earlier, while ethanol output of 1.57 billion liters was 11.6 percent up.