Shree Renuka Sugars Limited’s Post

In a recent interview with ET NOW, our Executive Chairman, Mr. Atul Chaturvedi shared insights on possibility of a government proposal to divert additional 800,000 tonnes of sugar towards ethanol production. This strategic move, utilizing surplus B-heavy molasses, is poised to slightly elevate ethanol production without impacting sugar production for the year at about 32 million tonnes. The possibility for Indian sugar being exported remains low, as it may increase the domestic sugar prices.  As a result of the move, the domestic sugar prices are unlikely to be impacted beyond about Re 1/kg. Watch the full coverage below. #RenukaSugars #SRSL #MadhurSugars #SugarIndustry #EthanolProduction #IndustryUpdates

The USA’s estimate for total sugar production for 23/24 is 8.3 million tonnes. There is likely to be a small surplus stock in 2024, whilst the 23/24 Mexican cane harvest started in November. Crushing is down 12% on last year due to a reduced cane area of around 5%, with rain disrupting the beginning of the harvest. Find out what this means in our Global sugar market report April 2024: https://lnkd.in/etB7_A_f #Ragus #PureSugars #PureSugarManufacture #Globalsugarmarketreport #MarketReport

Reports show that sugar mills have paid 87% of the sugarcane purchase amount to farmers by the end of March in the current sugar season. Out of the total payment of Rs 90,000 crore for October to March, Rs 78,000 crore has already been disbursed. This is positive news. Sugar mills have faced financial constraints due to unremunerative sugar prices and higher payouts for cane procurement, leading to low liquidity and delayed payments to farmers. However, the government's proactive policy promoting ethanol production has been beneficial for the sugar mills. Revenue generated from ethanol sales has enabled timely payments to farmers. Hopefully, the summer monsoon will play up to the expectations and aid in bumper sugar production. This will give confidence to the policy makers to allow mills to export sugar and divert excess sugar towards ethanol production, thereby generating additional cash flow for mills for timely payment to the farmers in line with Fair and Remunerative Price (FRP). #SugarMills #SugarcaneFRP #Sugar #SugarProduction #SugarExports

During the Annual General Meeting of the Indian Sugar and Bio-energy Association, Mr. Sanjeev Chopra, Secretary - Department of Food & Public Distribution, addressed concerns about the recent embargo on utilizing sugarcane juice for ethanol production. He acknowledged the industry's distress with the announcement. Emphasizing the move as TEMPORARY, he assured that the government is actively monitoring and reviewing the situation and conveyed confidence in the industry's long-term growth and the Ethanol Growth Story remaining intact. Adding that, any potential changes would be subject to review. Mr. Chopra highlighted the government's commitment to addressing the challenges by exploring various options to ensure a stable supply of molasses. He concluded by expressing the government's proactive steps to be mindful and optimize the situation in a postive way. Indian Sugar Mills Association #sugar #ethanol #molasses #india

The Indian Sugar Mills and Bio-Energy Manufacturers Association (ISMA) has urged the government to lift export restrictions, citing sufficient domestic sugar supplies and ethanol production needs. For the 2024-25 season, ISMA projects a 2% drop in sugar production to 33.11 million tonnes but anticipates a closing stock of 13.35 million tonnes. The association requests a revision of the minimum sales price to Rs 3900/quintal due to rising costs, and notes that 94.8% of cane dues have been cleared for the current season. #IndianSugarMillsandBioEnergyManufacturersAssociation #Goverment #Export #SugarSupplies #EthanolProduction #SugarProduction

In a recent interview with ZEE Business, our Executive Chairman, Mr. Atul Chaturvedi discussed the recent dynamics of the sugar market. In India, while the selling prices for sugar have remained range bound due to ample supply, there has been an increase in sugarcane costs. This has led to difficulty amongst the mill owners, in servicing the interest burden. Mr. Chaturvedi expressed optimism about the potential benefits of opening export routes to ease stock burdens and emphasized ethanol's role in reducing excess sucrose inventory and enhancing future returns. #SRSL #ShreeRenukaSugars #Ethanol #AtulChaturvedi #ZeeBusiness #SugarIndustry

Uttam Sugar Mills Ltd Executive Director, S.L. Sharma, urges an increase in the sugar MSP to Rs. 38/kg for 2024-25, citing the Rangarajan Committee Report. With the FRP now Rs. 340/quintal, the MSP should be Rs. 40.87/kg. Sharma also calls for ethanol prices to rise to Rs. 62.50/litre (B-heavy molasses) and Rs. 68/litre (sugarcane syrup) and advocates lifting production restrictions. #UttamSugar #IncreaseinSugarMSP #RiseinEthanolPrice #LiftingProductionRestrictions

In an Exclusive Interaction with Mr. Sachin Raole, CFO & Director - Resources, Praj Industries, Journalist Nilesh Wadhwa from Financial Express Online discussed the implications of the Government's decision on the Sugarcane MSP Hike. During his interaction, Mr. Raole shed light on the linkage of the MSP hike in Sugarcane prices, whether there will be any impact on the #Ethanol industry, and whether it will result in a rise in petrol prices. Read more to learn about his insights: #FuelTheChange #Innovation #Sustainability #sugarcane #MSP

INCREASE IN SUGAR PRODUCTION ICUMSA 45 Our last offer of Brazilian sugar ICUMSA 45 is a big tonnage: 2 million tons monthly x 12 months Sugarcane production is expected to increase slightly to around 83.5 million metric tons for the upcoming season 2023-24, compared to the 82.40m metric tons achieved in 2022-23 due to a slight recovery in plant areas affected by the flood in Sindh in the last season. https://lnkd.in/dJwpxY8y

We, the Qurio Club MANAGE, present to you the "The Case of Sugarcane: Food v/s fuel” with the details of 1)    Steps taken by Union Government of India to increase the availability of Sugar domestically 2)    Ethanol Blending Programme (EBP) in India 3)    What are alternative Sugarcane feedstocks? 4)    Practices of distilleries after introduction of Differential Pricing Policy & ban of Grain for Ethanol production 5)    Sugar supply concerns 6)    Ethanol supply concerns Have a look through it, share and express your thoughts. Follow Qurio Club MANAGE for more such updates #sugarcane #inflation #ethanol #ebp #rains #supply #feedstocks #MANAGE #India #agriculture #industry #QurioClubManage