India’s sugar inventories have been depleted by 19% and the country could start the 2021/22 marketing year with lowest the stocks in four years after mills exported a record amount in the current year, according to the Indian Sugar Mills Association (ISMA), reported Reuters.
The birthplace of the sugar cooperative in India – Maharashtra state – is witnessing a steady decline, paving the way for private mills. According to local press reports, the trend is informed by financial mismanagement, lack of professional approach and mills becoming a source of finance to cater to ambitions of politicians has been ailing the cooperative sugar mills.
India – Olam to sell Maharashtra sugar plant to Wilmar-Renuka for US$47million-54 million [Full subscriber]
Olam International, controlled by Singaporean state investor, Temasek Holdings is in advance talks with Indian sugar maker Renuka-Wilmar to sell its plant in Maharashtra for around INR3.5 billion-4.0 billion (US$47 million-54 million), according to Economic Times.
Ethanol production capacity is set to be boosted with 16 new plants to be set up during the 2021-22 fiscal year, attracting investment of INR12.5044 billion (US$168 million), according to local press reports.
India – Sugar mills get orders to supply over 3 billion litres ethanol – 70% more than the previous year [Registered]
Sugar mills across the country have contracted orders to supply 3.023 billion litres of ethanol to oil marketing companies (OMCs). This is 70% more than the 1.78 billion litres supplied in the previous season, according to local press reports.
India – Praj to expand Godavari’s ethanol plant capacity by 50% to 600,000 litres/day [Full subscriber]
Praj Industries has secured an order from Godavari Biorefineries Ltd (GBL) to expand the capacity of its ethanol plant in Karnataka from 400,000 litres/day to 600,000 litres.
India – Crematoriums in Gujarat source bagasse as firewood supply runs low as Covid fatalities escalate [Full subscriber]
With Covid-19 infection rates breaching over 400,000 daily currently in the second wave and over 4000 deaths reported daily, many crematoriums are running out of wood. In Gujarat, some crematoriums have sourced cane bagasse for the last rites.
India has contracted to export 5.6 million tonnes of sugar so far in the current 2020-21 (Oct-Sept) season, and is expected to conclude deals for shipment of the rest 400,000 tonnes soon, trade body All India Sugar Trade Association (AISTA) said on 11th May.
At a recent meeting of the Committee on Agriculture of the World Trade Organization (WTO), questions were raised on the reported US$626-million interest subvention grant to help India use its sugar for ethanol production, and a decision to approve sugar export subsidies worth US$475.8 million for the marketing year 2020-21 to export 6 million tonnes of sugar.
India’s state-run oil refiners are prioritizing building first generation (1G) ethanol plants rather than build second generation (2G) cellulosic ethanol plants, as they are more cost-effective, according to local press reports citing officials from oil marketing companies.