Showing posts with label Sugar tips. Show all posts
Showing posts with label Sugar tips. Show all posts

Saturday, 17 March 2018

Sugar bears come out to play as India, Thailand post record harvests

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The investors are holding the biggest net-short position, or bets on declining prices, in six weeks 

There’s about to be enough sugar piled up in warehouses to make three chocolate cakes for every person in the world, and that’s got the market spooked.Supplies are booming thanks to the outlook for record harvests in India and Thailand, the world’s No. 2 exporter. The glut has already sent futures in New York to the lowest since September 2015, and hedge funds are gearing up for more losses. The investors are holding the biggest net-short position, or bets on declining prices, in six weeks.Citigroup Inc. expects a global surplus of 11.1 million metric tons this season, Aakash Doshi, a New York-based analyst, said in a March 13 report. The bank raised its outlook about 2.8 per cent from a February projection, citing gains in Asian production. The excess would be big enough to almost satisfy a full year’s worth of demand in the US, government data show.
Raw-sugar futures in New York are down 17 per cent this year to 12.65 cents a pound.
That’s the biggest loss among the 22 components of the Bloomberg Commodity Index.Funds are positioning for more losses. In the week ended March 13, money managers increased net-bearish holdings by 33 per cent to 141,659 futures and options, Commodity Futures Trading Commission data showed Friday. The figure measures the difference between bets on a price decline and wagers on a rise.




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Saturday, 20 May 2017

Cooprative mills seek dual pricing for sugar

The National Federation of Cooperative Sugar Factories (NFCSF) on Friday asked for dual pricing for sugar to ensure its availability at cheaper prices for household consumption and ensure fair remuneration to cane growers.

The trade body pointed to dual pricing in the supply of electricity and kerosene to industrial and household consumers to butress its stand on dual pricing for sugar.

NFCSF, which represent 262 cooperative sugar mills in the country, said the factory rate for household consumption can be Rs 30 per kg while the same for industries can be between Rs 50-60.

"As per the data, only 30 per cent of sugar is used for household consumption while 70 per cent is used by companies manufacturing soft drinks, chocolate, and ice cream," Naiknavre said.

He said the issue will be taken up with the government at an appropriate level.

The NFCSF said there was no decrease in prices of soft drinks and chocolate when the wholesale prices of sugar fell from Rs 37-39 to Rs 19 last year.

As per the NFCS, there is anti-sugar wave across the world, with the commodity blamed for obesity, diabetes, and heart ailments. Major beverage manufacturer like Pepsi and Coca-Cola have started replacing sugar with organic sweeteners like stevia. 


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Wednesday, 21 December 2016

Sugar production in India to remain self sufficient

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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.


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Friday, 16 September 2016

SUGAR STOCKS ON A HIGH, BUT EXPERTS SEE LIMITED UPSIDE

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Shares of sugar producers soared on Friday, outperforming the broader market, after domestic prices hit a threeyear high on Thursday.

Analysts said a decline in production and steady demand may keep sugar prices stable. But, gains in shares could be limited as valuations appear stretched and prices may not rise in a big way going ahead.

Balrampur Chini Mills BSE 4.54 % rose 4.5% to Rs 107.05, Triveni Engineering BSE 6.63 % gained 6.6% to Rs 55.50, Bajaj HindusthanBSE -0.21 % advanced 2.1% to Rs 17.20, Dhampur SugarBSE 3.15 % gained 3.2% to Rs 118.05 and Sakthi Sugars rose 3.6% to a Rs 40.05 on Friday “Prices have shot up on the domestic front. The kharif sowing season is over but it seems that cane sowing is lower by 6-8%.Next year starting October (sugar season), its availability will be lower. All these factors have given fillip to sugar stocks,” said G Chokkalingam, founder, Equinomics Research & Advisory.

Sugar prices have moved from Rs 20 per kg last year to Rs 50 now mainly on account of the reduced acreage, said the local festive season, thus keeping prices at elevated levels.

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