According to a notification released by the directorate general of foreign trade (DGFT), the government on Wednesday extended the ban on sugar exports past October 31.As to the notification, “Export restrictions on sugar, including raw, white, refined, and organic sugar, are extended beyond October 31, 2023, until further order.” The government said last year that…
Turmeric prices saw a small gain of 0.21%, closing at 15,622, spurred by increased purchasing activity associated with holiday demand. The shortage of turmeric on the market is made worse by Maharashtra’s declining turmeric production. Though supplies of turmeric are still scarce, upcoming beneficial rainfall in Maharashtra and Telangana is anticipated to boost crop growth….
Prior to future festivities like Vijaya Dashami and Deepawali, the Nepali government plans to import 20,000 metric tonnes (MT) of sugar from India to accommodate domestic demand. The Finance Ministry has approved the import of only 20,000 MT of sugar at this time, despite the Ministry of Industry, Commerce, and Supplies’ request for a 60,000…
On profit-taking yesterday, the price of turmeric dropped by -6% to $15204 due to the domestic demand remaining at its current level. The lack of export inquiries is expected to affect market sentiment. Together with a steep increase in prices, export demand has stalled. A further concern for turmeric crops that will limit the losses…
As a result of low cane yields due to a lack of rain, India is anticipated to forbid mills from exporting sugar starting in the upcoming season in October, suspending shipments for the first time in seven years. India’s exit from the global market would probably push up benchmark prices in New York and London,…
According to the Indian Sugar Mills Association (ISMA), increasing sugarcane diversion for ethanol production is expected to result in a 3.41% decrease in sugar production, or 31.68 million tonne (MT), in the upcoming season (October-September), compared to the season 2022-2023. It is anticipated that 32.8 MT of sugar will be produced this season. According to…
Until at least the first half of the following season, India is not considering allowing sugar exports since the government is concerned the El Nino weather pattern will restrict rainfall and hurt production, government sources said on Monday. The amount of sweetener mills can export is typically decided by India, the second-largest exporter of sugar…
Out of the 514 crore liters of ethanol contracted for the ethanol supply year (ESY) 2022-23, 233 crore liters had been delivered to oil marketing companies as of April 30. This allowed them to increase the blending to 11.65 percent from 10% during the same period last year. In the present ESY, a 12% ethanol…
Since the sugarcane crop has been hampered by excessive rainfall, primarily in Maharashtra and Karnataka, the Indian Sugar Mills Association (ISMA) has revised lower the country’s production of the commodity to 34 million tonnes (mt) for the current season (October 2022 September 2023). The projection by ISMA, an association of private sugar mills, is 5%…
In its first estimate of sugar production for 2022–23, which was just announced, the private trade group All India Sugar Traders Association (AISTA) estimated India’s sugar production at 34.5 million tonnes, a decrease of 3.63% from the 35.8 million tonnes produced in the prior year. Maharashtra will produce 12.4 million tonnes of sugar this season,…
