New Delhi: The government is considering imposing a 25% duty on exports of molasses – a by-product of sugarcane and key ingredient for ethanol productions – as it expects a decline in sugar production in the upcoming season, senior officials said. The curbs on exports are expected to boost the availability of molasses for domestic … Read more
Union minister Nitin Gadkari on Tuesday said diversification of agriculture towards energy and power sectors is the need of the country, apparently pitching for increased production of ethanol. “I am telling you the truth, your life cannot be changed by growing wheat, rice, maize and bajra. No matter how much production you produce, the price … Read more
India’s year-on-year sugar production is expected to fall by 10% in 2022-23, which is expected to make sugar more expensive during the summer season when demand for cold drinks and ice creams increases substantially. Industry body National Federation of Co-operative Sugar Factories (NFCSF) has pegged India’s 2022-23 sugar production at 325 lakh tonnes against 359.25 … Read more
With only three months left to close the financial year 21-22, rating agency on Wednesday said that profitability of sugar, fertiliser and dairy sectors will remain stable in FY22. Sabyasachi Majumdar, Senior Vice President & Group Head, ICRA said that the sugar industry ended SY2021 with a production of 31.2 million metric tonnes of sugar, … Read more
With a view to encourage sugar mills to divert excess sugar cane/sugar to ethanol & to achieve targets of blending ethanol with petrol in line with Ethanol Blended with Petrol program, incentive on sugar sacrificed for producing ethanol from B-heavy molasses/sugarcane juice/sugar syrup/sugar has been doubled from October 2021, onwards in their monthly release quota. … Read more
West Bengal Chief Minister Mamata Banerjee announced on Wednesday that industry is her prime focus and she has formed an empowered board, with Banerjee as chairman, which will work as a one-window system for the industry. The Board will have all related departments including industry, to review the industry projects and clear all roadblocks. Banerjee … Read more