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In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

Union Minister of <keyword id="19994242" type="General" weightage="20" keywordseo="road-transport" source="keywords">Road Transport</keyword> and Highways, <keyword id="19897455" type="General" weightage="20" keywordseo="Nitin-Gadkari" source="keywords">Nitin Gadkari</keyword>, asked states to pitch for reducing GST on flex-engine cars. Gadkari stated that the government needs the support of the states to promote <keyword id="23007559" type="General" weightage="20" keywordseo="flex-engine-vehicles" source="keywords">flex engine vehicles</keyword> by reducing GST up to 12 per cent on <keyword id="23007560" type="General" weightage="20" keywordseo="flex-engines" source="keywords">flex engines</keyword>, cars, and scooters. "We will try to convince all the finance ministers. Yesterday I had the opportunity to discuss with the finance minister of Maharashtra and I told him, you please go to the meeting and put up this proposal for reducing GST up to 12 per cent on flex engines, cars, and scooters," he said. Addressing IFGE's India Bio-Energy and Tech Expo in New Delhi, the Union Minister added that factors such as economic viability, proven technology, availability of raw material, and marketability of the finished product are in favour of the development of these engines. Gadkari said that developing flex-fuel engines is the target of the government, and we have the "proven technology" to make it possible. "I feel that now the flex fuel is very, very important. Already the managing director of Tata, Suzuki and Toyota, they have decided to start flex engine car in the country," the Union Minister stated. Gadkari added, "So the flex engine is the ultimate target. As far as the market is concerned, there is huge potential. Everywhere, as far as a comparison between fossil fuel and <keyword id="20228373" type="General" weightage="20" keywordseo="biofuel" source="keywords">biofuel</keyword>, in the Indian scenario, the cost of biofuel is less and there is no pollution. So that is the important reason that it is going to be advantageous to the common man also," the Minister stated. Going further, Gadkari said that vehicle companies such as Bajaj, TVS, and Hero, along with two or three other companies, have their models ready with flex engines to run on 100 per cent <keyword id="20069651" type="General" weightage="20" keywordseo="ethanol" source="keywords">ethanol</keyword>. He said, "Many of the generator manufacturers are working to change the diesel generators into ethanol. One of the companies is also they are taking an interest in converting 5 lakhs of telecommunication towers there and 250 crore litre consumption of diesel. Now they are also changing into ethanol." He further stated that the raw material is already available in India, there is a need to think about ways to increase the production of biomass, which can be useful for making biofuel. (ANI) "I feel that this is the time for the country that we have got very good potential. We need to create positivity and confidence in the minds of the stakeholders. Now things are open. The market is going to increase. Availability of ethanol, again, I am very much thankful to Hardeep Puri ji, our Minister group is there. We already have a clear policy now," Gadkari said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-13-plus-5g-vs-iqoo-z9s-pro-battle-of-the-under-25000-smartphones/slidelist/112924868.cms">Realme 13 Plus 5G vs iQOO Z9s Pro – Battle of the under ₹25,000 smartphones</a> <a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a>

Gadkari asked states to pitch for reducing GST on flex engine vehicles

<ul><li><keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric vehicles</keyword> (EVs) are gaining popularity worldwide</li><li>However, concerns remain about their environmental impact</li><li> <keyword id="21881868" type="General" weightage="20" keywordseo="alternative-fuel" source="keywords">Alternative fuel</keyword> vehicles like hydrogen fuel cells and biofuels are some more alternatives we can tap into</li></ul> Electric vehicles or EVs are in their prime right now, with the demand crossing an all-time high. A trend noticeable around the world, EVs are not only becoming increasingly popular but also fairly affordable. Slowly but surely EVs are overcoming the challenges that crossed them — design, features, safety, and most importantly range. A major credit to this trend can be given to consumer acceptance, policy backing, and improving infrastructure. However, there is a downside to EVs as well. Having featured multiple EVs with our series<a href="https://www.youtube.com/watch?v=TCR3PaYxcmk&amp;t=1s" data-type="tilCustomLink" target="_blank"> Short Spin, </a>I developed a strong reference point. This made me wonder why are we so heavily reliant on them. Over its life cycle, EVs cannot be termed as particularly environmentally friendly, which has been their main selling point over the past few decades. <h2>The ‘Red’ side of EVs</h2> There is a bit of red within the go-green agenda that EV manufacturers push. EVs as a whole do come with benefits like low maintenance, improved efficiency and ultimately lower fuel emissions. However, <keyword id="21357488" type="General" weightage="100" keywordseo="EV-production" source="keywords">EV production</keyword> and disposal can have detrimental effects on the natural environment. Here are some socio-ecological concerns over EVs: 1. High carbon footprint in battery production: EV battery production is energy-intensive and often relies on electricity from fossil fuels, leading to a high initial carbon footprint. This is elaborated in a story recently published by Earth Org. 2. Resource constraints and ethical concerns: Particularly with the extensive mining of cobalt and other minerals for EVs, there has been a global outcry. Limited availability of critical minerals like lithium, cobalt, and nickel, shady mining practices long work hours, unsafe work environments, and use of child labour in underdeveloped parts of the world have raised several ethical issues around the sustainability of EVs. This issue can be explored further in this essay by Al Jazeera. 3. Recycling and end-of-life challenges: EV battery recycling is currently inefficient, costly, and poses significant environmental risks, with a huge amount of batteries ending up in landfills. 4. Manufacturing costs and economic barriers: High production costs, especially for batteries, make EVs more expensive than conventional vehicles and require significant investments in new manufacturing facilities and supply chains. 5. Supply chain and geopolitical risks: Critical mineral resources necessary for EV production are concentrated in a few countries. This leads to vulnerabilities in the complex supply chain and often risks disruptions due to geopolitical tensions, trade conflicts, or natural disasters. China as of today controls 83% of EV battery production in the world, with a major stronghold on the supply chain. While I am in no way suggesting to drop out of EVs, I believe sticking to just one alternative risks replicating the same mistake we did for ICE vehicles. So, what are the alternatives? <h2>The alternates fuel vehicles (<keyword id="23193800" type="General" weightage="20" keywordseo="AFVs" source="keywords">AFVs</keyword>)</h2> AFVs are a growing segment of the automotive industry that utilize fuels other than traditional gasoline or diesel. These vehicles offer similar potential benefits such as reduced greenhouse gas emissions, improved air quality, and reduced dependence on fossil fuels. While EVs are also a form of AFVs, here we will list out other major alternatives like hydrogen fuel and biofuel options. Hydrogen fuel cells: Convert hydrogen gas into electricity, emitting only water vapour. Currently, <keyword id="19906788" type="General" weightage="20" keywordseo="Toyota" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota" meta.hostid="261" meta.entityid="Toyota">Toyota</keyword> and Hyundai are the only hydrogen-based cars in the Indian market. Hydrogen internal combustion engines: These vehicles use hydrogen as a fuel in modified combustion engines. While road-legal vehicles for this fuel type aren’t out, BMW with hydrogen 7 is working on a prototype. Ethanol: This is a renewable fuel made from plant materials, commonly mixed with gasoline. In America, Ford F-150 Flex-Fuel and Chevrolet Silverado Flex-Fuel are utilizing this technology. Biodiesel and renewable diesel: Derived from vegetable oils, animal fats, or recycled grease, these fuel types can be used in diesel engines. Compressed Natural Gas (CNG): Perhaps the most famous alternative for cabbies in Delhi, CNG is in popular demand. Technically it is used in specially modified internal combustion engines, primarily for lower emissions. Propane (Liquefied Petroleum Gas, LPG): A byproduct of natural gas processing and crude oil refining, used in internal combustion engines. As technology continues to advance, these AFVs are becoming more accessible and affordable, making them a promising option for sustainable transportation. If you are an eco-conscious buyer in today’s auto market, bear in mind that there are options beyond EVs as well. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mercedes-expands-bev-range-rolls-out-second-locally-produced-model-in-india/articleshow/113388002.cms" data-type="tilCustomLink" target="_blank">Mercedes expands BEV range; rolls out second locally produced model in India</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies/articleshow/113361787.cms" data-type="tilCustomLink" target="_blank">Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies</a>

EVs are not the only options for alternative fuel — make way for hydrogen and bio-fuel

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

<ul><li>Sugar producing company stocks have rallied up to 25% in the last one month on excitement of double incentive by the government for producing ethanol.</li><li>The government is taking several steps to boost <keyword id="1992365" type="General" weightage="20" keywordseo="ethanol-production" source="Orion">ethanol production</keyword>, which can be used as an alternative to fuel in car engines and thereby reduce air pollution.</li><li>The government has already addressed auto makers to start manufacturing <keyword id="10975219" type="General" weightage="20" keywordseo="flex-fuel-vehicles" source="Orion">flex fuel vehicles</keyword>, automobiles which can run on ethanol.</li></ul>Most sugar manufacturing companies have witnessed the best year as their share price doubled or even tripled in 2021 led by improving outlook and government measures to support such companies. In the last one year, the government has come out with a slew of measures to encourage sugar mills to produce ethanol. Ethanol is an alcohol-based fuel produced by fermenting the sugarcane juice. Ethanol has been a game changer for the sugar industry In October, 2021, the government announced an incentive to encourage sugar companies to divert excess sugar cane stock in producing ethanol, which can be blended with petrol and used as fuel in vehicles. Besides, this is also a good solution to address the problem of excess sugar production in the country. Stock prices of many sugar companies doubled in 2021. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sugar producing companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in last one month </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bannari Amman Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shree Renuka Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">153% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uttam Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Hindustan Sugar </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Balrampur Chini Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avadh Sugar &amp; Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dhampur Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dwarikesh Sugar Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">130% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Triveni Engineering and Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">212% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Bharat Sugar &amp; Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">167% </td></tr></tbody><tbody></tbody></table>Government’s measures to boost ethanol production In an effort to reduce import of petroleum products, the government has been encouraging farmers to produce ethanol that can be blended with petrol and used as a fuel in vehicles. Also, the centre has advised auto makers to manufacture flex fuel vehicles that are capable of running on both ethanol-based fuel and petrol. Maruti Suzuki, Toyota, Honda, BMW and Mercedes have been told to make vehicles that can run on ethanol based fuel, said Union Minister for Road Transport and Highways Nitin Gadkari in an Agro-Vision event in Nagpur this week while encouraging farmers to grow more sugarcane plants. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div>The move is in line with the government’s target to reduce the carbon emissions by one billion tonnes by 2030. Analysts say sugar industry has a long way to go Sugar industry in India is expected to grow by 6-7% in the years 2021-2022 due to growth in exports of sugar and ethanol, said Manoj Dalmia, founder and director, Proficient equities. “Exports taking place from India will rise as Brazil is facing weather changes impacting crops. India is to register exports of around 4-6 million tonnes for (sugar 2022). Government plans 20% ethanol blending by 2025 in petrol, currently it is 10%. This measure will reduce the debt burden on farmers as a result sugar stocks are to grow,” said Dalmia. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/six-reasons-why-indias-central-bank-believes-cryptocurrencies-threaten-financial-stability/articleshow/88588170.cms">Six reasons why India’s central bank believes cryptocurrencies threaten financial stability</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbl-banks-stock-slumped-nearly-10-even-as-rbi-approves-interim-head-for-the-bank/articleshow/88584214.cms">RBL Bank slides back to its lowest in a year despite a new chief and RBI's assurances</a>

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

The government has increased ethanol blending in petrol from 1.53 per cent in 2013-14 to 10.17 per cent in 2022 and advanced its target to achieve 20 per cent ethanol blending in petrol from 2030 to 2025-26, Petroleum Minister Hardeep Puri said on Tuesday. He said that <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has been able to navigate through the most formidable energy crisis the world has seen since the 1973 oil crisis thanks to its energy security strategy focussing on diversification of energy supplies, increasing India's exploration and production footprint, and meeting energy transition through the gas-based economy, <keyword id="8411893" type="General" weightage="80" keywordseo="green-hydrogen" source="Orion">Green Hydrogen</keyword> and electric vehicles. Puri said that India has increased the number of its crude oil suppliers from 27 countries in 2006-07 to 39 in 2021-22, adding new suppliers like Columbia, <keyword id="6358826" type="General" weightage="50" keywordseo="russia" source="Orion">Russia</keyword>, <keyword id="6354786" type="General" weightage="20" keywordseo="libya" source="Orion">Libya</keyword>, Gabon, and Equatorial Guinea among others. "At the same time, we have strengthened our relationship with countries like US and Russia," he added. The minister further said that diesel prices, in India between December 2021 and December 2022 rose by only 3 per cent, going up by 34 per cent in the US, 36 per cent in Canada, 25 per cent in <keyword id="6363645" type="General" weightage="20" keywordseo="spain" source="Orion">Spain</keyword>, and 10 per cent in the UK. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/british-company-develops-the-first-ever-tractor-that-runs-completely-on-cow-dung/articleshow/96882132.cms">British company develops the first-ever tractor that runs completely on cow dung</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amazon-great-republic-day-sale-to-begin-on-january-16-for-prime-members/articleshow/96885798.cms">Amazon Great Republic Day Sale to begin on January 16 for Prime members – sale dates, card offers and more</a>

Ethanol blending hiked from 1.5% to 10% since 2013-14: Govt

<ul class="summary-list"><li>Biden will allow sales of E15 ethanol-blended <keyword id="11955852" type="UNKNOWN" weightage="60" keywordseo="gas" source="Orion">gas</keyword> this summer, the <keyword id="11896084" type="UNKNOWN" weightage="60" keywordseo="white-house" source="Orion">White House</keyword> said Tuesday.</li><li>It said the move is aimed at counter soaring fuel prices which followed <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.</li></ul>President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> will allow E15 ethanol-blended gas to be sold throughout the US this summer, the White House <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/04/12/fact-sheet-using-homegrown-biofuels-to-address-putins-price-hike-at-the-pump-and-lower-costs-for-american-families/">said</a> Tuesday, as part of measures to tackle <a href="https://www.businessinsider.com/uber-driver-working-less-due-to-rising-gas-prices-2022-3?r=US&amp;IR=T">soaring fuel prices</a> in the wake of Russia's invasion of Ukraine. E15 <keyword id="12360876" type="UNKNOWN" weightage="60" keywordseo="gasoline" source="Orion">gasoline</keyword>, which is gasoline blended with 15% <keyword id="12510895" type="UNKNOWN" weightage="60" keywordseo="ethanol" source="Orion">ethanol</keyword>, is banned in most of the US during the summer because of air pollution concerns. But the White House said that the Environmental Protection Agency (EPA) is planning to issue a national emergency waiver which would allow E15 to be sold between June 1 and September 15.The White House said that E15 is on average $0.10 per gallon cheaper than other gas. Using more E15 would bring down prices and reduce dependency on foreign fuels, it said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/04/12/fact-sheet-using-homegrown-biofuels-to-address-putins-price-hike-at-the-pump-and-lower-costs-for-american-families/">press release</a>.<a href="https://www.businessinsider.com/biden-us-ban-russian-oil-natural-gas-coal-imports-report-2022-3?r=US&amp;IR=T">The US banned imports of oil and natural gas from Russia</a> on March 8, causing global oil and petroleum product prices to rocket.As of Tuesday, gasoline cost on average $4.098 per gallon in the US, according to the <a href="https://gasprices.aaa.com/">AAA</a>. Prices have retreated from a peak of $4.331 reached on March 11, but still remain considerably higher than this time last year."An emergency waiver can help increase fuel supplies, give consumers more choice to get lower prices, and provide savings to many families," the White House said, adding that the EPA would work with states to ensure there are no significant air quality impacts.But Lenny Rodriguez, an oil analyst at S&amp;P Global, <a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/agriculture/041222-biden-to-announce-us-epa-emergency-waiver-allowing-summer-e15-fuel-sales">said</a> that the slightly lower <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> content of E15 means that "motorists will see lower mileage per gallon than usual and might end up needing to fill up their tanks more frequently."The White House said that E15 is currently offered at 2,300 gas stations in the country, though S&amp;P Global noted that these are mostly located in the Midwest. E10 gasoline, which has a lower concentration of ethanol, is more widely available, and throughout the year, according to S&amp;P Global."We obviously expect an uptick in E15 sales this summer due to greater overall gasoline consumption, greater availability of E15, and E15 selling at a discount to E10 at the pump," Corey Lavinsky, global manager of biofuels analytics at S&amp;P Global Commodity Insights, said.But he noted that the additional ethanol volumes sold during the summer if the waiver is implemented "should be relatively small, roughly 25 million gallons."

Biden to allow E15 ethanol-blended gas to be sold throughout the US this summer to counter soaring fuel prices

<ul><li>The Indian government has announced a 25% increase in the price of ethanol produced from B-heavy molasses of <keyword id="46885" type="ORGANIZATION" weightage="20" keywordseo="sugarcane">sugarcane</keyword>. </li><li>A sustainable increase in production of the alternative fuel could also serve to meet <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s energy requirements.</li><li>Producing is ethanol is more profitable for the economy and there’s excess demand to be met. </li></ul>Sugar produce in India might see a decline with the government <a href="https://www.business-standard.com/article/economy-policy/sugar-output-likely-to-drop-if-mills-make-ethanol-directly-from-b-molasses-118091200107_1.html">announcing incentives </a>on the production of ethanol from B-heavy molasses. Historically, India has been the largest consumer of sugar in the world but the focus on meeting that demand has led to a <a href="https://www.businessinsider.in/india-could-soon-become-the-worlds-largest-sugar-producer-but-heres-why-thats-a-problem/articleshow/65657844.cms">surplus in the market.</a> Not only is the demand for ethanol higher, but it is a more profitable option as well. The main boon of the policy lies in the fact that India is the fourth largest producer and consumer of energy. And, ethanol, serves as an alternative fuel. Nitin Gadkari, the Union Transport Minister, made a <a href="https://www.news18.com/news/auto/switching-to-ethanol-cng-will-reduce-petrol-diesel-prices-in-india-bjp-union-minister-nitin-gadkari-1874025.html" data-type="tilCustomLink" target="_blank">statement</a> saying that switching over the alternative fuels like ethanol could serve as a important catalyst in driving down the prices of petrol and diesel that currently rising at an increasing pace. The new policy could be a boon to stabilise sugar prices, increase the income of farms and reduce India's dependency on foreign crude oil, all in one sweep. What are B-heavy molasses? Molasses are basically any fluid substance resulting from refining sugar cane into sugar. So far, mills only derived ethanol from C-heavy molasses because without remuneration backed by policy, using the B-heavy molasses wouldn’t be profitable. But with this policy allowing for a 25% increase in the price of ethanol from B-heavy molasses from ₹47.5 per litre to ₹52.43, <keyword id="6374174" type="DOMAIN" weightage="20" keywordseo="sugar-mills">sugar mills</keyword> have a margin they can rely on. Demand-supply disparity According to the India Sugar Mills Association, India is set to produce 35.5 million tonnes of sugar between October 2018 and September 2019 but the demand is only at 25 million tonnes. Even historically, reports <a href="http://www.indiansugar.com/PDFS/Kingsman_2016-final.pdf">show</a> that India sugar consumption has remained stable at around 20 kilos per capita a year. So, a decline in sugar output through incentivising B-heavy molasses might not only be good for the economy but a more sustainable solution as well. There are three crucial outcomes tied in with each other. One, the current level of sugar output will decrease leading to an increase in price. That will take the burden off the government who’s currently set the MSP at ₹29/kg, which is above the global average hurting the product’s export competitiveness. Two, the farmers who are owed money will quickly be remunerated. Currently, the debt is expected to reach around ₹30 billion if the output isn’t curbed. And, three, the economy would benefit as a whole since ethanol is more profitable and there is excess demand is waiting to be addressed. It also serves as an alternative fuel that could potentially reduce India's dependence on crude oil. And, addressing the price disparity of sugar would increase the global demand for sugar, a market that's currently sluggish as is.

India's curbing its sugar surplus by incentivising ethanol production

Repeated using and frying of edible oil leads to the formation of TPC (Total Polar Compound) which renders it unfit for human consumption. Due to reheating, the nutritional and physicochemical properties of cooking oils are affected drastically. The health hazards triggered by the use of reheated cooking oil is raising major concerns in the medical sphere. What happens when edible oil is repeatedly used and reheated many times? Oil is a major ingredient in most Indian cooking traditions. A number of studies tell us that reheating cooking oil can release harmful toxins, increase the percentage of trans- fats in it, becomes rancid, gives rise to free radicals, and gives rise to some very harmful reactions. Reheating oil can take a toll on people’s health by resulting in several harmful effects. Not overheating the oil for a lot of time, not adding salt to foods before deep-frying, and minimizing food contamination by avoiding the accumulation of food particles in the oil are all suggested as some viable measures to reduce the harmful effects that result while reheating oil. However, strictly regulating the reuse of edible oil can help save the domestic as well as restaurant customers from the ill-effects of reheated cooking oil. New legal regulations governing the use of cooking oil The government has introduced a new set of regulations governing the use of cooking oil which has set the maximum permissible limit of Total Polar Compound (TPC) in cooking oil at 25 percent. The Indian Biodiesel Association has been asked by the FSSAI (Food Safety and Standards Authority of India) to create a nationwide eco-system to collect used cooking oil to convert it into bio-diesel. With effect from July 1, 2019, all the Food Business Operators (FBOs) in the country have been asked to strictly monitor the quality of oil used for frying in order to ascertain if it meets the approved regulations. The Food Authority has now created testing protocols for testing TPC. The Triple E strategy Talking of the implementation of the cooking oil standards announced by the government, Pawan Agarwal, CEO, FSSAI, said it will require “Triple E strategy” and a coordinated effort. The three ‘E’s in the strategy stand for Education, Empowerment and Eco-system. These ideas can be expanded as educating the businesses and consumers on the health consequences of using spoiled cooking oil, and developing an eco-system to collect used cooking oil and producing bio-diesel from it. What the law wants to achieve? Cooking oil is majorly consumed by restaurants and food products manufacturers. As per the existing practice noticed among these businesses, cooking oil is not discarded in an environmentally friendly way. In many cases, the used cooking oil is bought from these businesses by smaller restaurants, street vendors and dhabas. Since the laws governing the use of edible oil has taken effect already, FSSAI has asked the State Food Safety Commissioners to provide education programs and carryout the surveillance and enforcement activities for the new set of regulations. In a typical year, Indian masses consume about 23-million tons of cooking oil. Hence there is a potential to recover about 3 million tons of edible oil for producing bio-diesel.

The Use and Reuse of Cooking Oil -- Disadvantages, Regulations and all you need to know

<ul><li>At the World Trade Organisation’s (WTO) Committee on Agriculture meeting later this month, <keyword id="6355478" type="LOCATION" weightage="20" keywordseo="australia">Australia</keyword> is all set to raise the issue of India’s <keyword id="31653" type="DOMAIN" weightage="20" keywordseo="sugar">sugar</keyword> production subsidies. </li><li>India’s sugarcane farmers are expected to produce 35.5 million tonnes of sugar between October 2018 and September 2019. This is well over domestic demand, and hence as India exports the surplus stocks, global prices will decline. </li><li>India has tried to curb the problem of overproduction by incentivising the production of ethanol, but the initiative is still in the early stages. </li></ul>As the US clashes with India over the latter’s <a href="https://www.businessinsider.in/america-doesnt-like-indias-farmer-subsidies-and-thats-unlikely-to-change-anytime-soon/articleshow/64123715.cms">agricultural subsidies</a>, India is all set to be hit with a fresh challenge over its subsidies to local sugar producers — this time from Australia. At the World Trade Organisation’s (WTO) Committee on Agriculture meeting later this month, Australia is all set to raise the issue of India’s sugar production subsidies, according <a href="https://www.abc.net.au/news/rural/2018-11-16/india-sugar-subsidies-priority-for-industry/10176976">to ABC News</a>, complaining that these distort the global market for sugar by lowering prices and increasing supply significantly. To this effect, it has issued a counter-notification against India -- the first step required to compel a WTO member to cut subsidies, wherein the complainant explains the nature of the subsidy and subsequent market distortion. India’s astonishing rate of sugar production is well-documented. Given that they are assured of a government-set fixed price from sugar mills that helps them exceed their costs, India’s sugarcane farmers are expected to produce <a href="https://www.businessinsider.in/india-could-soon-become-the-worlds-largest-sugar-producer-but-heres-why-thats-a-problem/articleshow/65657844.cms">35.5 million tonnes </a>of sugar between October 2018 and September 2019, according to the <keyword id="124503" type="ORGANIZATION" weightage="20" keywordseo="Indian-Sugar-Mills-Association">Indian Sugar Mills Association</keyword>. As a result, India will overtake <keyword id="6355226" type="LOCATION" weightage="20" keywordseo="brazil">Brazil</keyword> as the world’s largest sugar producer. However, this isn’t something to be celebrated. India needs to do a better job at converting excess stocks of sugarcane to ethanol. Otherwise, it risks flooding the global market with excess sugar, since annual domestic demand is only about 25 million tonnes, depressing prices even further. That is largely where Australia’s complaints emanate from. The low global prices of sugar have hurt its sugarcane farmers falling well below their costs of production. In addition, more sugarcane importers are expected to choose India’s sugarcane over other countries like Australia and Brazil because of the cheaper prices. Meanwhile, India’s sugarcane mills are also struggling with low sugar prices, which has resulted in a huge build-up of <a href="https://economictimes.indiatimes.com/news/economy/agriculture/sugarcane-arrears-to-farmers-down-to-rs-16600-crore-government/articleshow/65214878.cms">arrears to </a>sugarcane farmers. That has led to a <a href="https://www.livemint.com/Industry/tlKss2fM2BcaGMrIyHR4ZJ/Government-approves-Rs8500-crore-sugar-bailout-package.html">bailout package</a> for the sector from the Indian government, as well as the scrapping of export duties and<a href="https://timesofindia.indiatimes.com/business/india-business/government-doubles-import-duty-on-sugar-to-100-hikes-chana-to-40/articleshow/62809086.cms"> levying of import duties </a>to keep domestic produce competitive. For its part, India has tried to curb the problem of overproduction by incentivising ethanol production, but it will be a while before the initiative takes effect. In September, it increased the price of ethanol produced from B-heavy molasses of sugarcane <a href="https://www.businessinsider.in/indias-curbing-its-sugar-surplus-by-incentivising-ethanol-production/articleshow/65807284.cms">by 25%</a> in order to make its production financially viable. As part of a financial rescue plan in June, the country also offered a loan package worth ₹44.4 billion to producers to undertake the production of ethanol. SEE ALSO: <a href="https://www.businessinsider.in/india-could-soon-become-the-worlds-largest-sugar-producer-but-heres-why-thats-a-problem/articleshow/65657844.cms">India could soon become the world’s largest sugar producer but here’s why that’s a problem</a> <a href="https://www.businessinsider.in/indias-curbing-its-sugar-surplus-by-incentivising-ethanol-production/articleshow/65807284.cms">India is curbing its sugar surplus by incentivising ethanol production</a> <a href="https://www.businessinsider.in/america-doesnt-like-indias-farmer-subsidies-and-thats-unlikely-to-change-anytime-soon/articleshow/64123715.cms">America doesn’t like India’s farmer subsidies and that’s unlikely to change anytime soon</a>

You Searched For "ethanol production" and got 10 results

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