✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Sugar mills in key Indian state to start operations from Nov. 5-source

Published 19/10/2016, 11:04 pm
Sugar mills in key Indian state to start operations from Nov. 5-source

MUMBAI, Oct 19 (Reuters) - Sugar mills in India's top producing western state of Maharashtra are allowed to start crushing operations from Nov. 5, nearly a month earlier than previously fixed commencement date, a senior government official told Reuters.

The state government had earlier asked mills to start operations from Dec. 1.

The government advanced crushing over concerns that large amounts of cane may be diverted for the production of unrefined sugar jaggery and mills in neighbouring Karnataka state may procure cane from the state, the official said on Wednesday.

Due to droughts, sugar production in Maharashtra is likely to drop nearly 40 percent to 5 million tonnes in the 2016/17 season started on Oct. 1 compared with a year earlier. This could force India, the world's biggest sugar consumer, to import as much as 2 million tonnes of sugar.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.