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Taking Advantage?
Posted by :
chaloo bhai
average it below 130.
you will not loose much in it....
Taking Advantage?
Posted by :
Guest
Why the price of Balrampurchini has gone down drastically. I have entered at 146.
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Taking Advantage?
Posted by :
DeluxeSomeone is taking advantage of recent seff-off setback of Balchi. He is creating a panic. When all the sugar companies are equally situated, demand and supply-wise, there is no reason for the price of Balchi to go down drastically everyday. It is a willful act of someone to create panic and take advantage of the situation. Do Not fall in this trap. Else the sellers will be losers. ...
BHL AND RENUKA IMPORTED 10 AND 14 LAKH TON OF RAW SUGAR WHERE AS BALRAMPUR ONLY 1 LAKH TON
Posted by : abhaytiwBALRAMPUR PROMOTER SEARCHING BUYER FOR BALRAMPUR CHINI IN THAT TIME THEY FORGOTTEN TO BUY RAW SUGAR THAT WHY I AM WORRY ABOUT BALRAMPUR ...
BHL AND RENUKA IMPORTED 10 AND 14 LAKH TON OF RAW SUGAR WHERE AS BALRAMPUR ONLY 1 LAKH TON
Posted by : dereckafDon`t worry about Balchi. Sugar Shortage is acute. Once the real harvest numbers come out, prices of sugar will rise. International prices to rocket too. Accumulate on declines....
BHL AND RENUKA IMPORTED 10 AND 14 LAKH TON OF RAW SUGAR WHERE AS BALRAMPUR ONLY 1 LAKH TON
Posted by : abhaytiwDUE TO LESS CONTRACTED RAW SUGAR BALRAMPUR WILL UNDERPERFORM AS COMPARE TO RENUKA AND BHL...
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 () 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 () 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 .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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Centre blinks, removes changes in cane order
Posted by : Guestjust wait and watch for the stock ...
Its going to be Gold now
Posted by : GuestDont sell this share now, it will reach to 180 to 200 very soon.......and hold it even buy more and more......as the decision is in favour of mills....I have 160 shares @ 122 but not selling it....
Centre blinks, removes changes in cane order
Posted by : maximindiaIn my opinion d new policy favours mills.Now they wl pay SAP OF Rs 165-175 against demand of Rs 280 by farmers.Again now govt wl b forced to pay levy price on SAP basis and not on FMP basis as per Supreme court order.So sugar stocks wl jump when d real picture is dawn on all.This is how politicians play their game fooling public.They hv also spread d news that imported sugar wl cost Rs 45-50/kg thereby allowing mills to raise price....
Centre blinks, removes changes in cane order
Posted by :
cmet
BS has reported as follows:
To mollify political rivals and farmer lobbies, the Centre today swiftly moved to “remove the misgivings” in the Sugarcane (Control) Order, making it clear that the difference between the fair and remunerative price (FRP) and state-advised price (SAP) would have to be paid by the mills and not by state governments.
At an all-party meeting, Finance Minister Pranab Mukherjee said Section 3 (B) of the Order would be scrapped. The Centre would also change the preamble of the proposed Bill (which will replace the Ordinance) to relieve states from any financial burden arising out of higher SAP.
“It was not the intention of the food ministry to dump the additional burden of higher SAP on states. But the language of the Ordinance created some confusion. It will be changed to make it clear that even if the states declare higher prices for sugarcane, the mills will have to pay the additional amount,” said Mukherjee.
The Centre will continue to fix the price of the levy sugar on the basis of its FRP. The new Bill replacing the Ordinance is likely to be brought on Monday, sources in the prime minister’s office said.
Earlier, the government was planning to call an all-party meeting next week over this issue. But Prime Minister Manmohan Singh wanted to see the issue resolved before he left for the US on Saturday. The United Progressive Alliance (UPA) managers hurriedly convened the meeting this afternoon where all parties supported Centre’s new proposal.
“It is strange phenomenon that the government should have to pay Rs 14,000 crore to the mills. So, the Centre decided to bring in the Ordinance. But, now, we will have to make some changes to the Sugarcane (Control) Order to bring clarity in the whole issue,” Law Minister Veerappa Moily told reporters after the all-party meeting. “UPA wishes to reaffirm it has always been guided by the principles that the interest of farmers is paramount. In taking this decision also, UPA has kept the interest of farmers as paramount,” the statement said after the all-party meeting.
The Left parties and the BJP, however, raised apprehensions in the meeting that the Centre’s fresh move would resolve the problem only for the time being. “As the Centre says it will buy levy sugar on the basis of FRP, the mill owners might again go to the court and create problems,” CPI(M) leader in the Lok Sabha, Basudeb Acharia, said. While mills were not sure whether the decision to continue fixing a uniform levy sugar price can be challenged after the new changes, they are certainly upset about it. “We have been robbed off of our rightful claims,” said a top Uttar Pradesh miller.
In the meeting, the finance minister mooted the new proposal. Food Minister Sharad Pawar also briefly explained the reasons behind bringing the Ordinance. The meeting was attended by all major political parties. Rashtriya Lok Dal (RLD) leader Ajit Singh, who played a crucial role in unifying the Opposition parties against the Ordinance, was also present in the meeting.
The new Ordinance, promulgated last month, introduced FRP as a uniform price at which mills will procure sugarcane. Besides introducing FRP, the new Ordinance now required state governments to pay the difference over and above FRP.
It is back to square one for sugar manufacturers. The Centre and State Govt will force them to pay higher prices to the growers thus squeezing their margins. Sugar Shares look to be in for a slide in prices, the higher sugar prices notwithstanding.
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Assume a Rs 32 as a price, assume 140 FRP or 145 FRP how many hundreds of crore you make then?
Posted by : maximindiaSo finally at is d victory of mills.Now they wl pay Rs175/qunt as SAP instead of Rs280 demanded by farmers.So everybody can c how politicians pocketed money and fooled farmers.All sugar stocks wl zoom on monday/tuesday when real picture wl emerge....
Assume a Rs 32 as a price, assume 140 FRP or 145 FRP how many hundreds of crore you make then?
Posted by : chchchm.thanabal, It is all politics. Congress & NCP sensing the sensitivity and Rahul`s interests in UP, thrown the ball in the court of State Govts. (including UP, a large sugarcane producing State). But, Mayawati will stand up to the challenge. She also may appease the farmers given that that the UP State coffers is in her hands. Similar will be the case of other State Governments who would not like to lose the vote-bank of farmers. One can see how bigger the hole in States budgets widen....
Assume a Rs 32 as a price, assume 140 FRP or 145 FRP how many hundreds of crore you make then?
Posted by : m.thanabal
The government plans to end the logjam on sugar pricing by scrapping clause 3(B) of the Sugarcane Control Order, 1966, which makes it mandatory for the state governments to bear the difference between the fair and remunerative price (FRP) and the State Advisory Price (SAP).
SP Tulsian says post the repealing of clause 3(B) profits of sugar companies would shrink by Rs 3 per kg this season.
Despite all this, he adds that sugar companies will make a profit of Rs 4 per kg on a rack rate of Rs 33 per kg.
To put things in perspective, Uttar Pradesh, India`s second-largest sugar producer, has announced a SAP of Rs 165 per quintal. However, farmers are demanding a price of Rs 210 per quintal.
The Centre`s fair and remunerative price stands at Rs 130 per kg. Earlier, the Rs 35 difference between the FRP (Rs 130) and SAP (Rs 165) was paid by the state government. The difference (Rs 45) between SAP (Rs 165) and the current price (Rs 210) was borne by mill owners, if paid at that price.
The government now wants mill owners to bear the entire difference (Rs 80). Tulsian feels this is a practical solution which would help end the impasse. ...
SAP may be modified to favour farmers
Posted by : maximindiaLet all politicians go to field and raise cane so that they can unite and ask Rs 1000/qntl price 4 cane.They r not bothered about sugar price bcs cane farmers r their votebank....
