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Thursday / November 7. 2024

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India, Sugar industry

Of the over 5000 LMT sugarcane produced, 35 LMT sugar was diverted to ethanol production

India emerges as the world’s largest producer and consumer of sugar as well as the world’s 2nd largest exporter of sugar. 

A record of more than 5000 Lakh Metric Tons (LMT) sugarcane was produced in the country out of which about 3574 LMT of sugarcane was crushed by sugar mills to produce about 394 LMT of sugar (Sucrose). Out of this, 35 LMT sugar was diverted to ethanol production and 359 LMT sugar was produced by sugar mills. 

A watershed season for Indian Sugar Sector as all records of sugarcane production, sugar production, sugar exports, cane procured, cane dues paid and ethanol production were made during the season.

Another shining highlight of the season is the highest exports of about 109.8 LMT that too with no financial assistance which was being extended upto 2020-21. Supportive international prices and Indian Government Policy led to this feat of Indian Sugar Industry. These exports earned foreign currency of about INR 40,000 crore for the country.

The success story of sugar industry is the outcome of synchronous and collaborative efforts of Central and State Governments, farmers, sugar mills, ethanol distilleries with very supportive overall ecosystem for business in the country.

Of the over 5000 LMT sugarcane produced,

AgroPolicy, Textile industry

It is expected that the cap removal will help the farmers, mills and jute MSME sector

Government of India after careful examination of the market dynamics of raw jute trade has lifted price cap of Rs 6500 per quintal for TD5 grade of raw jute fixed w.e.f. September 30, 2021 on purchase of raw jute by the jute mills and other end users.

Jute Commissioner Office has been collecting the information about the raw jute prices through formal and informal sources and found that the present prices are ruling near the capped price. As the existing prices of raw jute are ruling around Rs 6500 Government of India has taken a dynamic decision to lift the price capping w.e.f. May 20, 2022.

It is expected that the cap removal will help the farmers, mills and jute MSME sector wherein over seven lakhs people are dependent on the jute trade in addition to about 40 lakhs jute farmers. The decreasing trend in prices will also benefit jute goods exports which constitute about 30 per cent of the industry’s turnover in value terms.

It is expected that the cap removal