Sugar mills in Maharashtra to start crushing in 3-4 weeks
It is estimated that around 844-lakh tonnes of cane would be ready for crushing to produce 98-lakh tonnes sugar this season in Maharashtra.
By PTI |
MUMBAI: Sugar mills in Maharashtra would begin crushing operations by the third-fourth week of this month, an industry official said.
"Mills in Uttar Pradesh have not started crushing sugarcane due to pending cane arrears. As far as Maharashtra is concerned, mills would start crushing by the third-fourth week of this month," Amol Tilak, an analyst with Kotak Commodities said, in a research note here.
It is estimated that around 844-lakh tonnes of cane would be ready for crushing to produce 98-lakh tonnes sugar this season in Maharashtra. To ensure that the entire stock is crushed, all 162 sugar mills will have to be fully operational.
Meanwhile, sugar futures remained flat to weak in the near and far month. Sugar for the October delivery closed Rs 9 down to Rs 1,317 per quintal on the National Commodity and Derivatives Exchange (NCDEX).
The industry is now awaiting the Central government's announcement of sops for it.
Marketmen hopes that the government would soon announce further help for the industry, including extension of an export subsidy and allowing ethanol production from sugarcane juice, analysts said.
The government is planning to give more tax incentives to the industry and is considering direct conversion of sugarcane juice to ethanol to help farmers cope with falling prices, Agriculture Minister Sharad Pawar said recently.
The government is examining ways to provide increased monetary support to the sugar industry on the condition that the industry clears farmers' dues for sugarcane procurement as early as possible, Pawar said.
"Mills in Uttar Pradesh have not started crushing sugarcane due to pending cane arrears. As far as Maharashtra is concerned, mills would start crushing by the third-fourth week of this month," Amol Tilak, an analyst with Kotak Commodities said, in a research note here.
It is estimated that around 844-lakh tonnes of cane would be ready for crushing to produce 98-lakh tonnes sugar this season in Maharashtra. To ensure that the entire stock is crushed, all 162 sugar mills will have to be fully operational.
Meanwhile, sugar futures remained flat to weak in the near and far month. Sugar for the October delivery closed Rs 9 down to Rs 1,317 per quintal on the National Commodity and Derivatives Exchange (NCDEX).
The industry is now awaiting the Central government's announcement of sops for it.
Marketmen hopes that the government would soon announce further help for the industry, including extension of an export subsidy and allowing ethanol production from sugarcane juice, analysts said.
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The government is planning to give more tax incentives to the industry and is considering direct conversion of sugarcane juice to ethanol to help farmers cope with falling prices, Agriculture Minister Sharad Pawar said recently.
The government is examining ways to provide increased monetary support to the sugar industry on the condition that the industry clears farmers' dues for sugarcane procurement as early as possible, Pawar said.
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