Sugar News Today

In Maharashtra, rates fluctuated between Rs. 3680-3720/quintal, while in Karnataka, they reached up to Rs. 3900/quintal. Despite ample supply in the domestic market, the government is not currently contemplating lifting its sugar export ban.

India's Food Secretary highlights the country's shift towards sustainable sugarcane production at the New York Sugar and Ethanol Conference. Emphasis is being laid on water conservation and micro-irrigation systems in water-stressed areas.

Despite a weak opening by Sensex and Nifty, several sugar stocks are trading positively, with Sakthi Sugars, KCP Sugar and Industries, Simbhaoli Sugar, and Uttam Sugar Mills leading the gains. Other successful sugar stocks include Zuari Industries, Rajshree Sugars, and Triveni Engg. Ind.

Gujarat reported sugar rates ranging from Rs. 3751-3791/quintal. Kazakhstan has temporarily halted sugar exports until August's end to secure ample supply during the summer

Bihar Kisan Sabha discusses the unused Riga sugar mill and pending Rs. 53 crore sugarcane farmers' dues. Despite official reopening plans, two successive tenders have yielded no result, leaving the mill idle and farmers uncompensated.

Tanzania's government earmarks 400 hectares for sugarcane seedlings as an initiative to boost sugar production. This strategy involves a partnership with the Tanzania Prisons Production Corporation, aiming to annually surpass the current 4.2 million tonnes sugar output.

U.P. witnessed sugar rates between Rs. 3920-3940/quintal. As of April 2024, as per ISMA India's sugar production has reached approximately 314 LT. An additional output of 5-6 LT is anticipated from mills in Karnataka and Tamil Nadu.

Ukraine's sugar production is forecasted to increase by 2024, indicating potential alterations in the global sugar market dynamics which could influence Indian sugar industry and prices.

Kazakhstan has imposed a ban on sugar exports to stabilize local market prices and meet domestic demand, potentially impacting Indian consumers and the commodities market.

Industry body ISMA urges the government to permit 2 MT of sugar exports in the marketing year 2023-24 to support sugar mills struggling with excess production. The move could help stabilize sugar prices.