Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Govt Should Not Allow More Sugar Imports, Says NFCSF

The Centre should not allow additional raw sugar imports as that will adversely impact wholesale prices and mills' ability to make sugarcane payments to growers, cooperative sugar mills body NFCSF said on Monday.

PTI

Updated:April 17, 2017, 11:39 PM IST
facebookTwitterskypewhatsapp
Govt Should Not Allow More Sugar Imports, Says NFCSF
Labourers push a handcart loaded with sacks of sugar at a wholesale market. Representative image. (Photo: Reuters)
Loading...

New Delhi: The Centre should not allow additional raw sugar imports as that will adversely impact wholesale prices and mills' ability to make sugarcane payments to growers, cooperative sugar mills body NFCSF said on Monday.

Besides, it said, the government must not extend the deadline for shipments of raw sugar beyond June.

Earlier this month, the government had allowed import of 5,00,000 tonnes of raw sugar at zero duty to boost domestic supply with production expected to decline sharply to 20 million tonnes in the current 2016-17 marketing year from 25 million tonnes in the previous year.

The government has extended the deadline for import of raw sugar till June-end from the current June 12 timeline. "The Board has strong reservation for any additional quantity or extension of June deadline for sugar imports in the country. This is because it would definitely bring down the ex-mill sugar price and thus could adversely impact on mills' ability to pay cane price," National Federation of Cooperative Sugar Factories Ltd (NFCSF) Managing Director Prakash P Naiknavare said in a statement.

More imports are not required as the country would have an opening stock of 3.4 million tonnes at the beginning of the 2017-18 season from October 2017, he said.

Though the opening stock is less but it may not create a "panic situation" in the country as mills, unlike in decontrolled regime, can offload sugar as soon as it is produced, he added.

Stating that sugar availability will be comfortable next year, Naiknavare said this is because mills in Karnataka, Maharastha and Gujarat will start early crushing on September 30 and while others from mid-October.

"This would facilitate comfortable availability of sugar in the market during crucial months of October-November which in turn would help keep sugar prices at a stable level." That apart, the NFCSF sees sugar output to be better at 25 million tonnes in the 2017-18 season (October-September). NFCSF noted that cane arrears to be paid by cooperative sugar mills are negligible as compared to private mills.

| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
RBL Bank 500.40 -13.69
Yes Bank 83.25 -2.97
Bajaj Finance 3,323.10 -4.17
ACC 1,543.65 -1.50
Reliance 1,249.00 -1.02
Company Price Change %Gain
Biocon 240.35 -8.63
Yes Bank 83.25 -2.97
RBL Bank 500.35 -13.71
ICICI Bank 410.10 -2.05
HDFC AMC 2,316.85 6.76
Top Gainers
Company Price Change %Gain
NTPC 129.90 2.24
Titan Company 1,091.05 1.02
Coal India 221.90 0.73
TCS 2,076.95 0.53
BPCL 351.00 0.50
Company Price Change %Gain
NTPC 129.85 2.20
Coal India 221.95 0.68
TCS 2,076.95 0.55
ONGC 144.10 0.42
Power Grid Corp 205.90 0.27
Top Losers
Company Price Change %Gain
M&M 571.30 -4.37
Bajaj Finance 3,323.10 -4.17
Eicher Motors 17,664.00 -4.03
Hero Motocorp 2,387.40 -3.71
Tata Motors 154.85 -3.67
Company Price Change %Gain
M&M 571.35 -4.36
Bajaj Finance 3,322.05 -4.16
Tata Motors 154.80 -3.73
Hero Motocorp 2,387.65 -3.71
IndusInd Bank 1,421.45 -3.40

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results