According to Geojit, India is likely to have little or no sugar to export over the coming years as the industry is seen diverting excess sugarcane for the production of ethanol, food secretary Sudhanshu Pandey said.

Geojit's report on Agri Picks

India is likely to have little or no sugar to export over the coming years as the industry is seen diverting excess sugarcane for the production of ethanol, food secretary Sudhanshu Pandey said. The government has more than enough mustard seed of good quality for the 2020-21 (Jul-Jun) rabi sowing, a senior government official said, claiming a stock of 26,700 tn. The average export price of India's 25% broken non-basmati rice fell over 1% on month to $362.5 per tn in September, the United Nations Food and Agriculture Organization said in a report. The price was also a tad down on year. The average export price of India's 25% broken non-basmati rice fell over 1% on month to $362.5 per tn in September, the United Nations Food and Agriculture Organization said in a report. The price was also a tad down on year. The United Nation's Food and Agriculture Organization has scaled up its estimate for wheat output for 2020-21 by nearly 5 mln tn to 764.9 mln tn because of an expected increase in wheat production in Australia, European Union, and the Russian Federation. The United Nation's Food and Agriculture Organization's Food Price Index was at 97.9 points in September, up 2% on month. The index rose for the fourth straight month. The West Bengal government will restrict procurement of paddy at 9 tn per farmer in 2020-21 (Oct-Sep) marketing season unlike in previous years, an official with the state food department said. Imports of edible oil are seen at 15.3 mln tn in 2020-21 (Oct-Sep), up nearly 6% on year, said Thomas Mielke, an industry expert and chief executive officer of Germany-based edible oil research publisher Oil World.Palm oil imports are expected to rise 10.6% on year to around 8.85 mln tn in 2020-21, while those of palm kernel oil are seen at 1.40 mln tn against 1.25 mln tn, he said. India is likely to grow a record 10 mln tn mustard crop in 2020-21 (Jul-Jun), mainly due to the likelihood of a sharp rise in acreage, Solvent Extractors' Association of India President Atul Chaturvedi said. Global sugar output is seen rising 13.3% on year to 188 mln tn in 2020-21 (MayApr), led by higher output in Brazil, India, and Thailand, said Subhendu Pobi, technical head of sugar refineries at Wilmar International in Indonesia.

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First Published on Oct 9, 2020 10:03 am

Agri Picks Report: Geojit

According to Geojit, India is likely to have little or no sugar to export over the coming years as the industry is seen diverting excess sugarcane for the production of ethanol, food secretary Sudhanshu Pandey said.

tags #Agri Picks #Brokerage Recos - Commodities #Commodities #Geojit