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Stock Market News - Sugar business expects to regain

Sugar business expects to regain when worth rise, govt measures - The surge in sugar prices follows the central government’s announcements to support the industry weeks before the crushing season a few weeks away.

The expected decline in 2019-20 sugar production coupled with the announcement on the creation of 4 million tonnes (MT) of sugar buffer stock and subsidy on 6 MT sugar exports resulted in sugar prices rising to Rs 34-34.5/kg (ex-mill Uttar Pradesh), according to a report by rating agency ICRA. Sugarcane is Rs 31.8/32 per kg in Maharashtra against the minimum selling price of Rs 31.

The ICRA raids the government’s measures were likely to result in improvement in the liquidity of sugar mills, thus supporting cane payments to farmers as well. Domestic sugar production is likely to decline to around 28.2 MT compared to 32.9 MT in 2018-19, because of the near-drought in Maharashtra and Karnataka.

After a sharp decline over recent quarters, prices of crude palm oil (CPO) are set to rise sharply in the quarter ending December.

This is due to a forecast of a decline in production and expectation of a revival in biodiesel demand in Indonesia, one of the largest producers. 

CPO prices on the benchmark Bursa Malaysia fell around 5 percent in the past month, to MYR Malaysian ringgit) 2,048 a tonne in early Thursday trade for near-month delivery.

Experts at GlobOil 2019 link the movement in CPO price to several other factors. Such as weather patterns in India, B20 and B10 biodiesel mandates in Indonesia and Malaysia, respectively, the ongoing trade war between the United States and China, and soybean output in the Americas.
Sugar Industries | Sugar Mills | Economy | News | Polices



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  1. Sahasranshu16 March 2020 at 15:20

    Amazing posst! thanks for sharing...
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    Sensitive Index
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  2. Sadhana s6 April 2020 at 17:50

    Thanks for sharing. Really useful information and it’s great article with good resources. Checkout our Stock Investor website for more latest stock market update.
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