Inflation based on the consumer price index rose marginally to 9.75 percent in October as compared to 9.73 percent in the previous month, on account of a sharp increase in prices of sugar, pulses and vegetables, government data showed Monday.
Not all large sugar mills licensed to produce ethanol, in the southern Tamil Nadu state, will benefit from oil marketing companies’ orders for ethanol, required for ethanol-blended fuel, two private sector sugar mills based in that state said.
The soaring prices of desi ghee, sugar and other ingredients that go into making Indian sweets could rob you of a sweet-deal when shopping for mouth watering sweets in Punjab this festive season. Punjabis are also slowly turning to chocolates and cakes, which they gift each other.
India's sugar output is likely to drop by one million tonne to 25 million tonnes in the marketing year beginning October 1 due to poor rainfall in key producing states, especially Maharashtra and Karnataka, the Indian Sugar Mills Association (ISMA) said. However, there will be enough stocks to meet domestic demand, ISMA said.
Sugar production is estimated to touch 260 lakh tonnes in the current marketing year ending September, the Indian Sugar Mills Association (ISMA) said. "It is expected that in the next three months, another 3 lakh tonnes would be produced in Karnataka and Tamil Nadu, and the country would produce 260 lakh tonnes by the end of the season," ISMA said in a statement.
The Federation of Indian Export Organisations (FIEO) has requested the Centre to maintain stability in the export policies for agricultural products, reports SME Times. Rafeeque Ahmed, President of the FIEO, stated that frequent changes in agri export policies disrupted the functioning of exporters and adversely affected their earnings.
Union Finance Minister Pranab Mukherjee said that the government is using a variety of instruments, including trade policy, to keep prices of sugar stable in the country.
Food Minister KV Thomas stated that India will consider more exports of sugar in view of the country’s surplus production, reports Economic Times.
India's sugar production grew by 13 percent to 246.31 lakh tonnes till April 15 during the current marketing year that started from October 2011, industry data shows.
India has requested Iran to lift the ban on imports of wheat from the country, which was levied back in 1996. Deccan Herald reports that Indian and Iranian officials are in discussion in this regard.