INDIA’S SUGARCANE AND SUGAR INDUSTRY has literally hit the sweet spot. It is not just the country’s second-largest agro-based sector, following closely behind cotton, but has also put India in the top spot globally in sugar production -- churning out an impressive 37 million metric tonne of sugar in 2022. Besides, it also sustains the livelihoods of countless sugarcane farmers in rural areas while providing gainful employment to nearly 500,000 individuals working in sugar mills across the nation.
The industry is in the news these days. Sugar prices in the country have surged over 3 per cent in two weeks, reaching a six-year high due to concerns about limited rainfall in key growing regions. This spike could worsen food inflation and deter sugar exports, which, in turn, may end up inadvertently supporting already high global prices.
Sugar mills fear a sharp production decline in the upcoming season due to drought, making them reluctant to sell at lower prices, according to Ashok Jain, President of the Bombay Sugar Merchants Association. While this price hike may strain consumers, it’s a boon for sugar producers like Balrampur Chini, Triveni Engineering & Industries, Dwarikesh Sugar, Shree Renuka Sugars, and Dalmia Bharat Sugar. Improved margins will help them make timely payments to farmers, say experts.
One company, like its peers, has seen robust growth in its production, processing and sale of sugar. One of the largest integrated sugar producers in the country, Triveni Engineering & Industries (TEIL) has set new records in various segments, showcasing its resilience and commitment to growth in FY23. Triveni is also among the leading players in its engineering businesses, comprising power transmission and water and wastewater treatment solutions.
This story is from the 21 October 2023 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the 21 October 2023 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Technology, AI Driving Warehousing Sustainability
Anshul Singhal on how Welspun One is rapidly transforming Grade-A logistics and industrial parks across India, offering integrated fund development and asset management for large-scale warehousing solutions
DECODING RETAIL'S NEXT FRONTIER
As brands pivot towards omnichannel ecosystems and startups challenge legacy frameworks, the focus sharpens on experiential retail, sustainability and data-driven personalisation.
SORORITY OF WOMEN OF METTLE
Awinter afternoon in mid-December found quite a crowd at the Oxford Book Store on Connaught Place, as bibliophiles congregated at a corner to listen to three women authors, diverse in their passions, but drawn together by an urge to tell their story.
THE LEGACY OF THE AMARNATHS
IN NOVEMBER 2017 the management committee of the Delhi Cricket Association named the eastern stand of the Feroze Shah Kotla ground the Mohinder Amarnath stand.
PUTTING THE POWER IN THE POWERHOUSE
The Asus ExpertBook P5 is powered by an 8-core 8-thread Intel Core Ultra 7 Series 2 processor that clocks a maximum speed of 4.8 GHz, but it does not have hyperthreading. It is light weight, with a smooth glass touch pad. The laptop almost has all the I/O ports you could possibly need in a business laptop, making it an extremely lucrative option for professional computing, says
"We must be aware of our energy and water consumption"
BW Businessworld caught up with actor, philanthropist, and climate warrior BHUMI PEDNEKAR to chat about climate change and more.
"Cooking is a passport to the world"
In conversation with renowned CHEF MANJIT GILL, Advisor at Kikkoman India and President, Indian Federation of Culinary Associations (IFCA). As the former Corporate Chef of ITC hotels, Chef Gill has helped shape iconic restaurants, such as the Bukhara, Dum Pukht, and Dakshin. He has had the privilege of serving former American Presidents Barack Obama, Bill Clinton, George Bush, and the French, Canadian, British and German premiers. In 1992, Chef Gill had the opportunity of being invited to cook for Prince Charles and Lady Diana, at the Palace of the Maharaja of Jaipur. He was awarded the Lifetime Achievement Award from the Ministry of Tourism in 2007.
Strengthening Middle Management for Organisational Resilience
WHAT HOLDS AN organisation together in chaos? Is it visionary leadership, cuttingedge strategies, or robust technology?
The Retail Trailblazers
A look at companies that are making a positive impact on India's growing retail sector with their future fit business and marketing strategies.
Driving Conscious Consumerism
VIDIT JAIN, Co-founder of Kindlife, is leading the charge in revolutionising the intersection of technology and conscious consumerism.
