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OUR AGRI MINISTER VIEW
Posted by :
abhaytiw
“Certain sections were pressing for complete withdrawal of the sugarcane ordinance, which would have resulted in a windfall of Rs. 14,000 crore for the sugar mills at the cost of the Central exchequer. Who were they helping? Certainly not the farmers,” he said.
The government had, through the ordinance, brought in a Validation Act that said the calculation of levy sugar price to be paid to millers by the Centre will be based on the minimum price and therefore, the court order based on SAP was negated, saving the government a burden of Rs 14,000 crore. However, by deleting 3B from the Sugarcane Control (Amendment) Order, 2009 and restoring the SAP, the financial burden on the Centre for payment of levy price to millers on the basis of SAP for future years may stand.
“The Bill, which we were thinking of introducing and getting cleared, was to protect the interest of the farmers vis-À-vis the millers. The Fair and Remunerative Price [FRP] is a benchmark price. It is the minimum that millers have to pay,” Mr. Pawar said.
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Excellent opportunity - BUY , BUY and Buy
Posted by : GuestThis is the opportunity to buy and enter into this stock. People were waiting this price correction to come. By whatever reasons, this opportunity has come now. We must utilise this opportunity, to reap good, sugary benefits....
UP SUGARCANE YEILD INCREASES UPTO 11% DUE TO LATE RAIN AND LATE CRUSHING
Posted by : abhaytiwTHIS SEASON SUGARCANE YEILD INCREASES UPTO 11%FROM 9% DUE TO LATE RAIN AND LATE CRUSHING ...
BAJAJ HINDUSTAN
Posted by : tara23ok.... thanks for ur views.....
BAJAJ HINDUSTAN
Posted by : abhaytiw
NO ,IT LIKE THAT YEAR LONG BATTLE OF SUGAR MILL IS GOOING IN SUPREME COURT ON EXCESS PAY BY MILL DUE TO SAP NOW CENTRAL GOVT HAS INCREASED LEAVY TO 20% BUT NOT ABLE TO PUT FRP WHICH SUGAR COMPANY WANTED
BUT NOW OTHER THING GOOING TO HAPPEN INDICATED BY OUR AGRICULTURE MINISTER IN 2 DAY BACK STATEMENT THAT SUGAR MILL IS NOT IN FAVOUR OF FRP IE IN OTHER WORD CENTRAL GOVT END UP PAYING 14000CR AS SUGAR BOND MAY BE...
BAJAJ HINDUSTAN
Posted by : abhaytiwnot any scam but year long battle of sugar mill in supreme court is now possible that end with 14000cr sugar bond pay by central govt that what hintend in our agriculture minister 2 day back statement ...
BAJAJ HINDUSTAN
Posted by : tara23there may be a sugar scam in this deal...
bloomberg news
Posted by : abhaytiw
Nov. 23 (Bloomberg) -- Sugar production in India, the world’s second-largest grower, may be 11 percent more than estimated after farmers boosted planting and yields improved because of increased fertilizer use.
Output may jump to 17.68 million metric tons in the season started Oct. 1, according to interviews with 631 farmers across six states by Geneva-based SGS SA for Bloomberg. The farm ministry and the Indian Sugar Mills Association have estimated 16 million tons. The SGS survey used a figure of 16.1 million tons for the previous year.
A bigger harvest may help India pare its reliance on imports and curb the 90 percent rally in global prices this year. A shortage turned the country, the biggest consumer, into a net buyer for the first time since 2006 and sent prices to a 28-year high in September.
“If India’s production turns out to be better than expected because of higher recovery and yield, it could prove to be mildly bearish for prices,” said Leonardo Bichara Rocha, an economist at the London-based International Sugar Organization.
India’s cane harvest this year may increase 9.8 percent to 297.95 million tons, bolstered by a 3.8 percent increase in acreage and a 5.7 percent improvement in yield because of better irrigation and fertilizer application, the SGS survey showed. The survey by five teams between Oct. 20 and Nov. 3 covered six main cane-growing states including Uttar Pradesh and Maharashtra, the biggest producers.
Sugar production may total 16 million tons this year, Agriculture Minister Sharad Pawar said Nov. 4.
Price Dispute
Mills in Uttar Pradesh, the biggest cane grower, haven’t begun crushing because of a price dispute with farmers, while rains hampered harvests twice this month in Maharashtra, the second-largest cane grower.
Reporting of “bad crop” conditions increased this year in the states of Tamil Nadu and Andhra Pradesh, while the health of fields in Maharashtra and Gujarat states wasn’t affected, the survey showed. Pest attacks on the standing crop fell in Uttar Pradesh and Maharashtra, compared with the prior season, it said.
While 97 percent of the farmers reported dry weather, high prices encouraged them to intensify irrigation and increase the use of fertilizer to boost yields, the survey showed.
Prices at Vashi in Mumbai, India’s biggest market for the commodity, have surged 82 percent this year, reaching a record 3,536.65 rupees per 100 kilograms ($76) on Nov. 7. Raw sugar in New York and white sugar in London have almost doubled this year.
‘Highly Optimistic’
Indian cane growers remain “highly optimistic” about prices this year, with 64 percent expecting more than 2,000 rupees ($43) a ton. Prices will determine crop acreage next season, the survey said.
Opposition lawmakers stalled parliament twice last week, demanding farmers must be paid more than the rate of 130 rupees per 100 kilograms fixed by the government. Mills in Uttar Pradesh offered 180 rupees, which opposition parties say isn’t enough. Growers want 280 rupees.
The country’s 50 million cane farmers are a powerful voting block, and Uttar Pradesh sends the largest number of lawmakers to parliament.
“We haven’t factored the fallout of political developments related to sugar in our forecast” of 17.3 million tons for the country, International Sugar Organization’s Rocha said.
India extended duty-free purchases of raw sugar by nine months to Jan. 1, 2011, to bridge a shortfall. White, or refined, sugar can be bought without paying taxes until March 31, a four- month extension.
‘New Highs’
“India’s deficit will extend into the next season, and I expect global prices to hit further highs,” said Krishnakumar Srinivasan, a fund manager at Sundaram BNP Paribas AMC Ltd. in Chennai. Purchases may total 4 million to 5 million tons this year, he said. The fund manages $2.9 billion and owns shares of Shree Renuka Sugars Ltd. and Balrampur Chini Mills Ltd., the nation’s top producers.
The world may have a surplus of 500,000 tons of sugar in the 2010-11
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BAJAJ HINDUSTAN
Posted by : abhaytiwhow 14000cr come in news after demolishing FRP look like very good thing gooing to happen soon for UP AND OTHER STATE WHRE SAP EXIST ie now if state fail to pay than centre to pay MAY BE AS SUGAR BOND...
BAJAJ HINDUSTAN
Posted by :
emmawatsanbajaj hindustan is high volatile stock....
BAJAJ HINDUSTAN
Posted by : tara23
among the fund managers, icici fm`s are the worst....
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BAJAJ HINDUSTAN
Posted by : abhaytiw
HDFC FUND MANAGER THINK LIKE COMMON PEOPLE ON STREET (2) 13-Feb-09 14:00 Track this thread Tracked by (0)
Posted by: abhaytiw on ( 13-Feb-09 14:00 )
Price : BSE: Rs 55.45 ( 4.82 % ), NSE: Rs. 52.95 ( 0.38 % )
I CAN BET WITH THEM THEY CAN LOSE BUY BIG MARGIN.i think they have to appoint new fund manager.their capicity utilise in imported raw sugar but i think next yearif economy recover then oil easily touch at least 70$abarrel that time rupee at around 42and bajajhind at least at 180 then they gooing to give buy call rubbish
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HOW THIS 14000CR COME IN PICTURE
Posted by : abhaytiwOUR AGRACULTURE MINISTER HAD SAID FRP WITHDRAWL THAN CENTRAL GOVT TO BEAR 14000CR ,IF THIS HAPPEN THAN UP MILL WILL BENIFIT MOST ...
HOW THIS 14000CR COME IN PICTURE
Posted by : abhaytiwOUR AGRACULTURE MINISTER HAD SAID FRP WITHDRAWL THAN CENTRAL GOVT TO BEAR 14000CR ,IF THIS HAPPEN THAN UP MILL WILL BENIFIT MOST ...
