India, the largest consumer of Sugar in the world has been expecting a lower production of Sugar this season. But despite the fall in acreage and a near drought situation, it is not likely to be much lower as expected.
India's Sugar production in 2016/17 season till December 15 is up by 11 per cent despite fall of more than 20 per cent in the Sugar production Maharashtra, the top Sugar producer of the country, according to Indian Sugar Mills Association.
Sugar production of Uttar Pradesh, the second largest Sugar producer, during this period has been doubled up giving better hope for Sugar production in the ongoing season.
Sugar crushing in the country at current levels is also continuing in a better pace compared to the previous year. Almost 440 Sugar mills are carrying out Sugarcane crushing activities for the year 2016-17 and as on December 15 they have produced 53.29 lakh tonnes of Sugar.
The current production of Sugar by mills is 5.36 lakh tonnes (11 per cent) higher than the corresponding date of previous Sugar season, when same number of Sugar mills were in operation and had produced 47.93 lakh tonnes of Sugar.
Due to shortage of currency in the market, Sugar demand from bulk consumers including sweet makers had seen a downtrend which had affected the Sugar dispatches from mills. Even thought the production is happening in full swing, arrivals in markets remains lower from the mills as the millers are not getting payment in cash. Ex-mill Sugar prices in the country have fallen by Rs150-200 per quintal after the demonetization policy implementation of the government.
The sluggish sale of Sugar in the country is expected to continue in the country till January 2017 and the country is expecting a surplus production in the 2017-18 season (October-September) owing to acreage increase in the major producing regions.
Get real time advice from Our Best Advisory - Capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
i like your post. really best post and all information are very useful.
ReplyDeleteComex signals
Natural gas signals
Comex gold signals
I really thank to give your blog and topic so good which Provides Stock Tips, Mcx Tips, Commodity Tips, Equity Tips, Forex trading on Mobile with High Accuracy.
ReplyDelete