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Bajaj Hindusthan

BSE: 500032  |  NSE: BAJAJHIND  |  ISIN: INE306A01021  |  Sugar
    
 

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24 Nov 2009 14:23

AT END FARMER UNDERSTAND RAW POLITICE

Posted by : abhaytiw
Price when posted : BSE: Rs 211.75 ( 4.83 % ), NSE: Rs. 213.15 ( 5.42 % )

LUCKNOW, 23 NOV: A battle that might have yielded rewards if fought out in the state changed course and was fought instead at the Centre. There were victory celebrations when the Centre declared as null Clause 3B of the Sugarcane (Control) Order of 1966, which had put the onus on the state government to pay the difference between the Centre’s Fair and Remunerative Price (FRP) and the state government’s State Advisory Price (SAP) for

sugarcane. But farmers of UP, who went all the way to Delhi to demand a higher price for their produce, are today a confused lot and blaming Rashtriya Lok Dal leader Mr Ajit Singh for “misleading” them. “They are feeling betrayed by Mr Ajit Singh,” Kisan Mazdoor Sangathan convenor Mr VM Singh told The Statesman over the telephone from Amroha in UP’s Jyoti Baa Phule Nagar district.
Although the hue and cry over sugarcane pricing began only last week, after a massive demonstration in the Capital led by Mr Ajit Singh and Samajwadi Party leader Mr Mulayam Singh Yadav, it was as far back as 24 October that the Mayawati government raised the SAP for sugarcane to Rs 170, Rs165 and Rs162.50 per quintal. Prices were raised to Rs.165 for the general variety of sugarcane, which forms about 80 percent of the state’s produce, Rs 170 per quintal for the “early” yielding variety that forms about 20 percent of the produce, and Rs.162.50 per quintal for the “currently rejected” variety, which forms barely five per cent of the overall sugarcane grown in the state.
In the face of opposition from sugarcane farmers, who were demanding an SAP of Rs 280 per quintal, Uttar Pradesh Cabinet secretary Mr Shashank Shekhar Singh said here on 9 November that a mutually agreeable price would be worked out with the approval of the farmers and mill owners, with the government acting as a facilitator. “It is strange that the Mayawati government had nothing to say about the thousands of crores that her government would have to pay if the controversial Clause were still in place,i.e., the state government would have to pay the difference between the FRP and the higher SAP. But the said Clause was repealed by the Centre because of loud and misleading demonstrations led by the Opposition parties ~ Rashtriya Lok Dal, the Samajwadi Party and the Bharatiya Janata Party. These parties misled farmers to believe that the Centre was to blame for farmers’ not getting their due,” Mr Singh told The Statesman.
“With people like Mrs Sushma Swaraj of the BJP stating clearly that a ‘battle’ had been won and the states would have to pay the SAP now, farmers became even more confused,” he added.
Mr Singh contended that the repeal of Clause 3(B) of the Sugarcane (Control) Order of 1966, did not affect UP at all.
He explained that according to an Supreme Court ruling in 2004, “by Clause 3 A of the Sugarcane (Control) Order 1966, the SAP was statutory on the basis of agreements executed in Form 3, which is compulsory for maintaining the Reservation Orders in UP”.
Even with Clause 3 B repealed, sugarcane farmers are entitled to SAP. “But for the meddling of ill-informed politicians, if sugarcane farmers had concentrated on agitating for higher SAP in Lucknow, instead of going to Delhi, they might have been able to persuade the state government to give in to their demand for an increase of pricing to Rs 280 per quintal. Instead, they are faced with losing much of the crop,” Mr Singh maintained.
Selling to kolhus (molasses makers) too is now a loss-making proposition for farmers. Taking advantage of the prevailing confusion, kolhus have decreased the earlier Rs 140 per quintal they were paying farmers, to Rs 130 per quintal.
Yet another farmers’ lobby in western UP, the Bharatiya Kisan Union, which has the controversial Mr Mahendra Singh Tikait at its helm, all but washed its hands off the entire affair.
“As far as the BKU is concerned, it is not up to the farmers to whether they want to carry the issue of sugarcane pricing further as an agitation. The BKU simply wants the UP government to discuss the issue at a meeting attended by all concerned parties from the mill owners and farmers to sugar industry leaders and sugar consumers. I wrote to Miss Mayawati yesterday urging her to hold such a meeting,” said Mr Rakesh Tikait, son of Mr Mahendra Singh Tikait, and national spokesperson of the BKU.
“Thanks to the confusion created by politicians sugarcane farmers are still suffering,” Mr VM Singh said.
During a Press conference called yesterday, UP Cabinet secretary Mr Shashank Singh said the state government had already announced the SAP for the current cane crushing season and the cane growers could not be paid less than this price, implying that the SAP would not be increased.
The Kisan Mazdoor Sangathan has threatened a “massive” farmers’ stir in Lucknow to be held on 15 and 16 December.
Despite repeated attempts, leaders of the RLD remained “unavailable for comment”.
...

24 Nov 2009 14:15

ANOTHER SIDE OF MIRROR

Posted by : abhaytiw
Price when posted : BSE: Rs 211.25 ( 4.58 % ), NSE: Rs. 211.55 ( 4.62 % )

New Delhi, Nov 23 (PTI) India, the world`s largest sugar consuming nation, may import a record of six million tonne in the 2009-10 season due to a sharp dip in domestic production, the US Department of Agriculture (USDA) said in a report.
Last season, the country is estimated to have purchased 2.8 million tonne sugar from the global market, it said. Sugar season runs from October to September.
...

24 Nov 2009 13:58

RJD VERY PRACTICAL VIEW

Posted by : abhaytiw
Price when posted : BSE: Rs 210.90 ( 4.41 % ), NSE: Rs. 210.85 ( 4.28 % )

Open market
The RLD chief did not agree that a higher SAP would impact sugar prices in the open market, saying that now when the price was Rs. 40 a kg, farmers still did not get any price this season as mills in UP did not start crushing. So to say that the sugarcane price impacted prices was not correct. Farmers got only Rs. 3 to 5 per kg for potato, for instance, whereas in retail markets potatoes are selling over Rs. 30 a kg. Where is the connection?”

...

24 Nov 2009 01:57

OUR AGRI MINISTER VIEW

Posted by : abhaytiw
Price when posted : BSE: Rs 202.00 ( -2.46 % ), NSE: Rs. 202.20 ( -2.34 % )

“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.
...

23 Nov 2009 14:52

Excellent opportunity - BUY , BUY and Buy

Posted by : Guest
Price when posted : BSE: Rs 202.80 ( -2.08 % ), NSE: Rs. 202.65 ( -2.13 % )

This 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....

23 Nov 2009 14:27

UP SUGARCANE YEILD INCREASES UPTO 11% DUE TO LATE RAIN AND LATE CRUSHING

Posted by : abhaytiw
Price when posted : BSE: Rs 201.90 ( -2.51 % ), NSE: Rs. 204.00 ( -1.47 % )

THIS SEASON SUGARCANE YEILD INCREASES UPTO 11%FROM 9% DUE TO LATE RAIN AND LATE CRUSHING ...

23 Nov 2009 12:49

BAJAJ HINDUSTAN

Posted by : tara23
Price when posted : BSE: Rs 199.70 ( -3.57 % ), NSE: Rs. 200.00 ( -3.40 % )

ok.... thanks for ur views.....

23 Nov 2009 12:31

Heading

Posted by : Guest
Price when posted : BSE: Rs 202.10 ( -2.41 % ), NSE: Rs. 201.95 ( -2.46 % )

any news regarding whats the outcome from parliment session?...

23 Nov 2009 12:07

BAJAJ HINDUSTAN

Posted by : abhaytiw
Price when posted : BSE: Rs 202.35 ( -2.29 % ), NSE: Rs. 202.30 ( -2.29 % )

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...

23 Nov 2009 11:57

BAJAJ HINDUSTAN

Posted by : abhaytiw
Price when posted : BSE: Rs 202.80 ( -2.08 % ), NSE: Rs. 203.00 ( -1.96 % )

not 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 ...

23 Nov 2009 10:09

BAJAJ HINDUSTAN

Posted by : tara23
Price when posted : BSE: Rs 204.10 ( -1.45 % ), NSE: Rs. 204.85 ( -1.06 % )

there may be a sugar scam in this deal...

23 Nov 2009 07:37

bloomberg news

Posted by : abhaytiw
Price when posted : BSE: Rs 207.10 ( -0.19 % ), NSE: Rs. 207.05 ( -0.19 % )

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
...

23 Nov 2009 06:16

BAJAJ HINDUSTAN

Posted by : abhaytiw
Price when posted : BSE: Rs 207.10 ( -0.19 % ), NSE: Rs. 207.05 ( -0.19 % )

how 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...

22 Nov 2009 22:14

BAJAJ HINDUSTAN

Posted by : emmawatsan
Price when posted : BSE: Rs 207.10 ( -0.19 % ), NSE: Rs. 207.05 ( -0.19 % )

bajaj hindustan is high volatile stock....

22 Nov 2009 21:23

BAJAJ HINDUSTAN

Posted by : tara23
Price when posted : BSE: Rs 207.10 ( -0.19 % ), NSE: Rs. 207.05 ( -0.19 % )

among the fund managers, icici fm`s are the worst....
...