Key points said in ISMA Annual General Meeting 2024
19-Dec-2024 05:16 PM
Key points said in ISMA Annual General Meeting 2024
★ ISMA held its 2024 Annual General at Taj Mahal Hotel in Delhi, in which Minister Nitin Gadkari said that the sugar industry is very important in India's economy. Ethanol is also being made from grains.
★ Due to increased use of maize for ethanol, prices reached Rs 2400 per quintal, which may come down to Rs 1800 per quintal in future.
★ The minister said that ISMA should give a proposal to the Ministry of Food and Consumer Affairs to open sugar exports.
★ A proposal for ethanol export should also be given.
★ Many countries - Sri Lanka, Bangladesh are considering ethanol mixing.
~~~~~~~~~~~~~~~~~~~~~
★ Food Secretary Anil Chopra said that ethanol production has crossed the target.
★ Increasing MSP is also in the government's focus. The government takes decisions after looking at other shareholders.
★ Ethanol production from grains increased. Production is expected to increase in future due to increased use of maize in ethanol, currently 350-360 lakh tonnes are produced, target is to reach 450 lakh tonnes production in the next 3-4 years.
★ Changes will be made in DDGS soon so that the use of broken rice increases in various schemes and making ethanol.
★ At the beginning of the current season, opening stock of 75 lakh tonnes, sugar production of 320 (+- 5) lakh tonnes and consumption of 290 lakh tonnes is expected.
★ 40 lakh tonnes will be used in ethanol, outstanding stock is expected to be good at the end of the season.
★ By 31 January 2025, all sugar mills will have to provide information about their stock on the online portal.
★ Action will be taken against mills selling sugar more than the quota. It will be linked to GST.
★ Soon the government will register farmers through Agri State Yojana and take crop information on the online portal. So that correct information about crop production is available.
~~~~~~~~~~~~~~~~~~~~~
Things said by ISMA
★ The old stock of sugar was given as 80 lakh tons and the previous estimate was 333 lakh tons.
★ The next estimate will be given at the end of January, the actual situation will be clear then.
★ Impact on sugarcane productivity and sugar recovery, production may be 325-330 lakh tons.
★ Due to extreme heat and elections in the last season, consumption was 295 lakh tons which may now decrease to 282-285 lakh tons.
★ 40 lakh tons of sugar will be used to make ethanol.
★ ISMA requested the government to export 20 lakh tons of sugar.
★ FRP of sugarcane increased by 6%, sugar prices in Maharashtra are around Rs 33 which was Rs 36 last year, in Uttar Pradesh prices are being quoted at Rs 36-36.5 which was Rs 38-39 last season. Good crop in Karnataka and Maharashtra.
★ Sugar mills have the capacity to produce 600 crore liters of ethanol, if the demand for ethanol increases in future, this capacity can increase.
★ ISMA said that this is the right time to open sugar export because sugar production in Brazil has decreased and international markets are also high.
~~~~~~~~~~~~~~
★ In a personal conversation with I Grain India, the Secretary said that the first priority of the government is to maintain sugar production and availability, second is ethanol production and third is export.
★ In the view of the government, all the proposals put forward by ISMA will be taken only after looking at the interests of the shareholders of the industry.