Why India’s sugar production in 2017-18 will leave a bitter taste in the mouth

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While the ISMA trading body has estimated sugar opening values ​​on 10/1/16 in the 77 lakh MT, on the ground, it may not exceed 65 lakh TM. This is the hard truth.

For the 2016-17 season, ISMA has revised its estimated sugar production reduced from 234 lakh lakh TM to 213 MT and now more than 203 lakh TM, which is around 201 lakh TM and maybe just below 203 lakh TM .

ISMA is trying to reduce the sugar scarcity scenario and the precarious situation on the ground to avoid government anger, showing that India has enough sugar.

This was indicated by ISMA even before the season in October 2016. The situation would be worse had there been no import of 5 lakh tonnes of sugar from May to July 2017.

Estimating the final stock of 30-9-17 23 lakh MT and this is equivalent to about 31 days of sugar consumption, which can take care of needs in October 2017.

From November 1, 2017, India could not have sugar to eat, unless Indian factories will begin to crush the last week of October in Maharashtra, Karnataka and UP.

India has learned to have seen consumption of 182 lakh tonnes of sugar during the first nine months ending between 30 and 6-17 and there is a stock of 69 lakh tonnes of sugar as 01/07/17 reported by the media .

In return, estimated consumption for 3 months ending between 30-9-17 was observed at 66 lakh tonnes, due to the festive season that followed and stock settlement occurred due to the GST transition.

This gives even more gloomy situation for October 17 that was not considered and was based here.

In return, looking for an available stock of 23 lakh tons of sugar, 30-9-17, can meet consumption for the month of octobre17 single; This month risk of higher sugar consumption as Independence Day, the most important season for sugar consumption falls on October 19 this year.

UP: Sugar production of 88 lakh TM for the 2016-17 season, growing by more than 29%, compared to the 68 lakh MT observed last season.

Maharashtra and Karnataka sugar production fell by more than 42% this season compared with last season, with Maharashtra saw 42 lakh tonnes and 20.60 lakh tonnes in Karnataka. .

TN, AP, Telangana: sugar production this season is lower by about 25% on average, v / s season dernière.TN should show a production of 10.50 lakh tonnes, while AP and Tealnagan 6 lakh tonnes.

The free sugar mill price in Tamil Nadu now exceeds Rs.1.50 per kg. During UP ex mill, which otherwise had always used to reign up to Rs.1.50 / kg, as there is no significant stock of sugar in Tamil Nadu.

TN experiencing a great shortage of water, with Gob. After having allocated water for priority purposes such as alcohol, livestock, coconut farming and sugar cane.

Therefore, TN will not see the output of more than 2 lakh MT sugar second season 2016-17, which began in June 2017. Even in the current monsoon, since the date was met with a deficit of about 27% up That date, which also Aura strong impact on production next season.

Therefore U.P. Sugar mills, which hold good pieces of sugar, recorded the best results that have been made during the year 16-17, so that the record could be broken by a financially performing companies to record up to exercise 17-18 .

Closing bell: Sensex soars 205 pts, Nifty ends above 10,050; SBI rises 4.5%

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15:30 Market closure: The market has increased sharply sharply, with the Sensex increased by 205.06 points and 514.94 32 Nifty increased by 62.60 points 10,077.10, with shares of banks, oil, breach and technology.

However, market amplitude was negative for approximately 1,442 stocks declined versus 1264 stocks advanced on BSE.

Indian state bank rose 4.5% after the bank has cut the deposit savings rate.

15:27 Infibeam chimney: the stock rose 8 percent after Snapdeal calls Flipkart the merger to continue its independent path.

Modify 15:25 in the market: Equity contacts were opened in the afternoon trading, the Sensex increased by 211.58 points and 521.46 32 Nifty rose 66, 55 points and 10 081.05 despite a weak market .

14:45 buzz: iron ore producer NMDC and Vedanta Shares have gained 4.5 percent intraday after the rally on long-term iron ore contracts.

Iron ore futures in China have continued to move upwards. Stock futures contracts reached a top 8 percent and trade in a new four-month high.

Incorporated in 1958, NMDC State participated in the exploration of a wide range of minerals including iron ore, copper, phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond sands, tin, tungsten, graphite, To the beach, etc.

NMDC is the largest iron ore producer in India, which currently produces iron ore from its three fully mechanized mines in Chhattisgarh and two in Karnataka state.

Vedanta is India’s largest privately owned iron ore producer, including iron ore operations in Goa, Karnataka and Liberia.

14:26 The analyst’s decision to reduce the savings rate by OSE Jimeet Modi, CEO of SAMCO Valores, said that the OSE, unlike its private sector peers, offering simple savings accounts for public sector customers with costs And is highly dependent on the interest income of this floating arrangement.

2:20 pm Market Update: BSE Sensex 30 shares rose 144.83 points 32 454.71 and the NSE Nifty 50 shares rose 38.05 points to 10 052.55.

The market amplitude was negative for approximately 1,314 stocks declined against stocks 1278 advanced on BSE.

14:02 Interview: 60 percent of non-microfinance book institutions (IMF) increased 36 percent in the first quarter, according to PN Vasudevan, MD and CEO, Equitas Small Banking Finance.

He also said gross non-productive book (NPA) assets other than MFIs remained stable at 4.5 to 4.6%.

On the front of the farm loans, he said that MFI loans are not part of the agricultural loan exemption announced in Maharashtra.

Speaking of expansion, he said that the expansion of the industry has led to an increase in operating costs. However, a significant expansion of the branch of approximately 12 to 18 months is not expected, he added.

He said that loan rates on new products are lower.

Better return on assets (ROA) is expected due to a healthy profile of new products. Equitas has made additional provisions in the first quarter of Rs 23 crore.

13:42 buzz: Shriram Transport Finance Q1 rose 20% over last year to Rs 448.7 crore Rs 374.1 crore.

Total revenues increased by 7.9 percent to Rs 2,898.4 crore compared to Rs 2,686.7 crore compared to the previous year.

At 13:42, IST, the quoted value at Rs 999.55, or Rs 29.85, or 3.08% on BSE.

1:22 p.m. Profits: Shree Cement’s first quarter earnings fell 13.3 percent to R440.1 crore compared to Rs 507.7 crore earlier this year, despite a lower tax rate. Weak operating performance has affected profitability, but revenue yield.

Pratibha Patil, Kalam key points in BJP-Cong talks on presidential poll

Pratibha Patil, Kalam key points in BJP-Cong talks on presidential poll
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Pratibha Patil, Kalam key points in BJP-Cong talks on presidential poll

The electoral context of two former presidents Pratibha Patil and APJ Abdul Kalam were the main points of discussion between the leaders of the National Democratic Alliance (NLD) Narendra Modi and Congressional President Sonia Gandhi on Friday.

Sources said Union ministers Venkaiah Naidu and Rajnath Singh emphasized that the congressional-led government had not consulted the opposition but continued the Patil nomination in 2007.

The incident went so far as to counteract earlier allegations of opposition that the Modi government did not speak to them.

During the meeting, some unfortunate allegations were also opposed by Patil’s husband.

Naidu and Singh spoke with the congress president at his 10 Janpath residence for half an hour.

At the meeting, Naidu and Singh also reminded the president of Congress as APJ Abdul Kalam was elected in 2002 as a consensus option to Prohibit the Left, which has its own candidate.

Presidential vote: Venkaiah Naidu BJP talks to Sharad Pawar, TDP leader

The president can not be a rival for the Prime Minister or his puppet
Sources said Naidu explained the purpose of the meeting: to know the opinion of the opposition parties to the prime minister and party leader to choose a candidate.

Government citations also said that the views of Congress would be “to seriously consider”.

The two sides have not discussed names of potential candidates.

Singh and Gandhi Naidu would have asked if he had a candidate in mind, but being elusive. Congress argued that it was not necessary for the NDA to conduct interviews with them without revealing the name of their election to the presidential candidate.

“There is no question of reaching consensus when they gave no name. We can talk about it with our allies and other political party leaders only if names are given,” said party leader Mallikarjun Kharge.

Gandhi had met with PCI (M) General Secretary Sitaram Yechury a few minutes before Naidu and Singh – part of a three-member group composed of BJP President Amit Shah to negotiate with other parties – is abandoned .

The panel must meet Yechury his party office in the afternoon.

Government involvement prevented opposition parties from finalizing a presidential candidate at a meeting on Wednesday.

According to sources, the NDA is trying to win Sharad Pawar from the Nationalist Congress Party (NCP) of the opposition camp.

One day after speaking with Praful Patel party leader Naidu called for a meeting with Pawar on Thursday. Veteran Maharashtra responded by saying that he will be in Delhi for a few days for further talks.

With only 20,000 votes to be learned from elsewhere, the Narendra Modi government seems poised to push its candidate into Rashtrapati Bhavan in the next poll.

The presidential election will be held on July 17 and the votes will be counted three days later.

Kapil Sibal JUSTICE FOR NONE!

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TTHE END OF ONE YEAR of the Modi dispensation, justice for all is still a distant dream. The measure of the gap between promise and delivery: the index of non-performance. ‘Justice for all’ was yet another Modi sloga: before the elections and ‘justice for none’ is the outcome after one year.

The Modi government has not even begun to address issues relatin. to the justice delivery system. The 3 crore pendency of cases, the allege, increase in levels of corruption within the judiciary, the inability of the! common man to get an effective judicial redressal system, delays of cour procedures, the inability to set up ‘commercial courts’, increasing cost? involved in the justice delivery system and other related issues are in the government’s radar.

The uppermost priority of this government is to exercise control over appointments in the higher judiciary. It has proposed changes to ensure that the executive holds the trump card in matters of appointment.

Article 124 (A) has been inserted in the Constitution by setting up a National Judicial Appointments Commission (NJAC) consisting of the Chief Justice of India, two senior judges of the Supreme Court next to him in hierarchy, the Union minister oflaw and justice and two eminent persons to be nominated by a high-powered committee.

Article 124 (B) provides for the NJAC making recom­mendations for the appointment and transfer of judges of the higher judiciary. These constitutional amendments suggest that neither the judiciary nor the executive will have primacy in the appointment of judges to the higher judiciary.

However, the National Judicial Appointments Com­mission Act (the Act of 2015), which too has been passed and notified, gives a veto power to any two members of the commission if they do not agree with the recommen­dations of the NJAC. This suggests that if the law minis­ter along with an eminent person objects to a particular nomination by the NJAC, it cannot go through. This veto power ofthe execu­tive will be a lethal weapon in its hands to block any appointment which the government of the hour perceives to be ‘inconvenient’. Also, the fact that the judiciary does not have primacy in matters of appointment strikes at the root of the independence of the judi­ciary. Instead of addressing the issues that affect millions of people in this country who are crying for justice in a system which is tardy, slothful and inefficient, the govern­ment has chosen to spar with the judiciary. Its intent and priorities are clear. It is least concerned with the travails of th eAamAadmi in accessing justice and more concerned with its own primacy in the appointment process. This is not just reflective of its priorities but exposes its desire to change the system to its advantage so that in the remaining period of its term, it can hope to fill the judicial corridors of power with incumbents who are perceived to be closer to this dispensation. This augurs ill for our judicial system.

Some might argue that the same veto can be exercised by the judiciary if the government of the day wishes to push particular individuals to man the higher judiciary. The logic of that argument is weak. It breaks down at the altar of our experience. We have instances from the past where those responsible for appointment to the higher judiciary have succumbed to executive pressure. The results stare us
in the face. Together the executive and the judiciary will make compromises to accommodate favourites at both ends and the justice delivery system will be the casualty.

While we can be critical of the intent of this government in pushing its agenda in the manner suggested above, we must be mindful of the tardy manner in which the col­legium system has worked. Far from passing the test of scrutiny with flying colours, its working has disappointed one and all.

Its fundamental flaw is that it has destroyed the inde­pendence of judges in the high courts, especially those who aspire to be elevated to the Supreme Court. They look up to the judges ofthe Supreme Court and seek their approbation. They lobby with judges as well as ministers in the hope that they be elevated. Sitting judges have in the past been suc­cessful in appointing those whose proximity with them is a matter of public knowledge. The collegium system has not done justice in discharging its responsibilities.

So what is the answer? If we are unhappy with the colle­gium system, we need to substitute it with a more effective mechanism. The NJAC provides a remedy, which, perhaps, is worse than the ailment. The fact is that the judiciary is loathe to give up its power to appoint members of the higher judiciary. This is why they have resisted the attempt to refer the matter to 11 distinguished judges to have a relook at the 1993 judgment in which the judiciary arro­gated to itself the power to appoint members of the higher judiciary. Ifthe judges uphold the NJAC, it will destroy the substratum of the 1993judgment. If they strike down the NJAC, it will be difficult to revive the collegium system.

The road ahead is difficult. Solutions will be hard to find but executive interference in the appointment process must be rejected.

I wonder why the Modi government took up this issue as its primary concern when millions in India are waiting for justice. Yet another instance in which Modi has not been able to usher in the Achche Din he promised, ffl

ONEYEAROFMODI Ashishkumar Chauhan BETTING ON A CLL INDIA

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HE ELECTION WHICH BROUGHT Prime Minister Narendra Modi to power year ago was fought in the backdrop of high inflation, unemployment, fiscal and trade deficits as well as allegations of corruption and anger against the administrative and political elites.

Almost all these issues were structural in nature, and hence, were not expect­ed to be solved within a short period of 12 months. Viewed from this angle, the B JP government’s singular achievement has been to bring down the inflation rate from 11.16 per cent in November 2013 to 4.87 per cent in April this year.

True, many experts have attributed the reduction in the inflation rate to external forces such as the fall in prices of crude oil, agricultural commodi-

 

ties and gold worldwide. However, in the past, despite a favourable external scenario, the country had witnessed high inflation.

The government was successful in containing fiscal deficit substantially, despite the huge reduction in revenue on account of the cut in ‘ad valorem’ duty on petroleum products. If one thinks that low and stable inflation rate is a pre-condition for a stable and growing society, then In­dia is coming closer to that objective today. Fiscal, revenue and trade deficits were managed with the highest-ever foreign exchange reserves of $352 billion.

The government is also taking several steps to augment infrastructure. In all his foreign trips, Modi has focused primarily on attracting foreign investment for the manufacturing sector. It is also to the credit of the government that norms for investments in defence, insur­ance and several other sectors have been relaxed to make India more attractive for foreign companies. The defence production strategy, which makes military procurement conditional upon making the equipment in India, will not only create a large number of jobs but also make the country a hub for hi-tech defence manufacturing in the future.

The single-window framework and project management portal is creat­ing an enabling environment for the Prime Minister’s Office to track prog­ress of important projects on a real­time basis. Projects worth more than Rs 6,00,000 crore — in both private and public sectors — are being moni­tored. Mechanisms have been devised to coordinate with states and cities to expedite projects with periodic re­views taking place and hindrances to project implemen­tation removed in real time.

The concept of‘Team India’ — consisting of Prime Min­ister, other ministers and chief ministers of various states — has also been well received. Giving a larger percentage of taxes and other revenues to states are well-intentioned and allows for a more flexible approach to implementation on the ground.

Although initiated by the previous government, the new government has built on the direct transfer scheme based on the unique identification number platform and launched a massive drive to open more than 150 million bank ac­counts with the express aim of bringing a large number of unbanked people into the financial mainstream.

Creating social security schemes such as the accident cover linked to bank accounts, providing micro loans to account holders, launching a pension scheme with
more than 80 million registered users and giving them life insurance have been achievements unparalleled in India’s history. But these were not highlighted much in the ‘middle-class media’. Giving small loans to entrepreneurs through the Mudra (Micro Units Development and Refi­nance Agency) bank is a brilliant initiative. The Swacch Bharat initiative has also been well received and created awareness about much-needed cleanliness in India.

India is the largest consumer of gold, and gold imports account for nearly a third of the current account deficit. The gold monitisation scheme, which was announced in the Union Budget for 2015-16, will help meet India’s gold demand substantially, and will also improve its current account balance.

The prime minister’s vision to create 100 smart cities, with modern infrastructure to support the large-scale urbanisation without compromising the quality of life, is a necessity, if India wants to become a global leader in the next 20 years. The International Finance Centre (IFC) in Gujarat is one such welcome initiative. The setting up of IFC was part of Modi’s vision, which was supported by the Bombay Stock Exchange (the first stock exchange in the world to sign a memorandum of understanding with Gujarat International Finance Tec-City).

Moreover, infrastructure needs to be created for ports, airports, roads, factories, power, mining, etc. This will not only kick-off employment generation instantaneously, but will also create conditions for job creation in the medium to long term, which will help India in achieving its goal of Make in India.

The first year of the Modi government has seen tremen­dous energy and initiatives. Some of them have yielded results and others will do so over a period of time. If the prime minister continues with the same zeal for the next four years of his first term, I am sure India will progress much further and fulfil our dreams of a clean, equal and poverty-free India. ED

The author is managing director and chief executive officer of BSE

 

Research Radar BRANDS SPIKE UP IPL FEVER

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This IPL (Indian Premier League) season saw Indian brands making their way through the noise into the minds of the cricket fans with their disruptive and innovative marketing strategies. Here is an overview to the top three brands for IPL’s Season 8 until Mayl, 2015 

of sub-regions. “It took
15-20 years for digital to
take off in some markets.
But markets today don’t

have to wait. A lot of the
power shifts are already
taking place bringing
decentralisation back.
This will help PHD in
Asia because the focus
now is to sell the strate-
gic part across markets.
Clients who are now ask-
ing agencies to challenge
thinking, which will then
automatically result into
creativity, are looking for
these solutions,” points
out Tsui.

In 2014, PHD APAC’s
focus was to build the
brand. This year it is look-
ing to build new business.
“We are building on our
momentum in sectors
such as luxury, FMCG,
pharma and hitting these
categories harder. We
are new in most of the
mass markets. We have
spent time building in
Australia, New Zealand,
China, Hong Kong. This
year will be all about
Southeast Asia and India,
which are the big op-
portunities. Across the
region, we will also focus
on partnerships, working
closer with creative sister
agencies and bringing-
in a lot more integrated
approach. Where we
have affiliates, we are
aggressively looking to
put a stronger foothold,”
explains Tsui. 33 

AROYALTOUCH

HUAWEI’S smartphone brand Honor launched its first television commercial for Honor 4X in India. The campaign, concep­tualised by L£K Saatchi £ Saatchi, features players from the India Premier League (IPL) team of Royal Challengers Bangalore.

The target consumers of Honor are the digital natives, people who spend more than one third of theirtime online shopping, studying or simply staying connected.

“Our recently launched brand Honor resonates the philosophy of’For the Brave’, for the ones who dare to dream and follow their passion, much like the team and play­ers of Royal Challengers Bangalore. With

this ad campaign, we wantto reach outto theyouth of Indiawho areourrealambas- sadors,”saysAllen Wang, president of Consumer Business Group atHuaweilndia and Honor.

The partnership between Huawei and Royal Challeng­ers Bangalore is a continuation oflast year’s collabora­tion that resulted in creating mass aware­ness for Huawei and achieving excellent sales for Huawei’s devices’ business. This partnership testifies Huawei’s commitment towards India and market localisation.

Russell Adams, vice-president for Com­mercial, Operations and Cricket Academy of Royal Challengers Bangalore, says, “We are excited about our renewed partnership with Huawei forthe next three years.” 33

GLOBESCAN

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IN NEGATIVE ZONE: Britain’s inflation rate unex­pectedly fell below zero for the first time in more than half a century, as the drop in the food and energy prices depressed the cost of living. Consumer prices de­clined 0.1 per cent in April from a year earlier, the Office for National Statistics said. Economists had forecast the rate to be zero, according to the median of 35 estimates in a news survey. Core inflation slowed to 0.8 per cent, the lowest since 2001. With inflation so far below the Bank o: England’s 2 per cent target, policy makers are under pres­sure to raise the key interest rate from a record-low of 0.5 per cent for now. Governor Mark Carney said any period falling prices will be temporary and an expected pickup i: inflation at the end of the year means the next move in bo: rowing costs is likely to be an increase.

Britain in the event
of‘Brexit’

I LEGAL TROUBLE: Alibaba has

been sued by Kering, a luxury brands group that includes Gucci and Yves Saint Laurent, over counterfeits on its popular e-commerce platforms. The lawsuit, filed in New York, alleges that Alibaba and its related companies “know­ingly encourage, assist, and profit from the sale of counterfeits on their online platforms…(and) make it possible for an army of counterfeiters to sell their illegal wares throughout the world”. Counterfeits have long been a headache for Alibaba, which operates China’s most popular e- commerce shopping platforms Taobao and Tmall. Co-founder Jack Ma has even called fakes a “cancer” to the company.

 

vodafone
SMART BATTLE: Apple was handed a mixed === ruling by a US appeals court in the latest twist in a blockbuster intellectual property battle with Samsung Electronics, as a prior patent infringement verdict was upheld but a trademark finding that the iPhone’s appearance could be protected was thrown out. That means up to 40 per cent of a $930-mil- lion verdict, which had been won by Apple, must be reconsidered. In the ruling stemming from the global smartphone wars, the Federal Circuit in Washington upheld patent infringement violations including one which protects the shape and colour of its iPhone as well as the damages awarded for those violations.
QUID PRO QUO: Greece is

near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month, the country’s finance minister said, as worries persist over a possible bankruptcy. Athens has been defending its “red lines” in talks with lenders, refusing to yield on further pension cuts and more labour maket liberalisation to clinch a deal that would release remaining bailout aid, despite a pressing cash crunch. “I think, we are very close (to a deal)… let’s say in a week,” Greece finance minister Yanis Varoufakis said. “Another currency is not on our radar, not in our thoughts.”

TOTAL RECALL :Takata is nearly doubling the size of its massive recall for faulty airbags, making it the largest auto recall in history. It recalled airbags used in about 18 million vehicles. This move will bring that number up to 34 million autos. That is nearly one out of every seven cars on US roads.

The recall is one of the largest consumer product recalls ever.

At least five deaths have been tied to the faulty airbags. But Takata has previously resisted demands by regulators to get all the affected airbags off the road. The airbags have been known to explode and send shrapnel into the face and body of both the driver and front seat passenger.