In a major relief to the beleaguered sugar sector, the Centre is likely to revise the sugar minimum selling price (MSP) by 10 per cent from its current level of Rs 29 a kg to Rs 32 a kg in the weeks ahead. Last year, the Union food ministry had fixed the ex-factory sugar sale… Read More »
After having faced embarrassing electoral losses in the Hindi heartland, the BJP is going all out to claw back its farmer support base. However, the deepening sugarcane crisis across the country is only exposing the saga of policy failures by the government.
Global sugar prices rallied as drought conditions in Brazil have the market bracing for less sugar cane. On Monday, sugar for February delivery on the Intercontinental Exchange finished up 6% at 12.65 cents a pound. The gains come after sugar futures had slumped through December and hit a three-month low of 11.69 cents a pound on Jan. 3.
India’s sugar production recorded a 5.8% year-on-year rise to 11 million mt between October 1, when the crushing season began, and December 31, despite a drop in the number of mills undertaking cane crushing activities, the Indian Sugar Mills Association’s latest data showed. A total of 501 mills undertook cane crushing activities this season during… Read More »
Raw sugar futures on ICE surged 6 percent on Monday to their highest in nearly three weeks, supported by higher crude prices, weather concerns in top growers Brazil and India, and technical factors, dealers said.