BALRAMCHIN

May 15 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS MARCH-QUARTER CONSOL PROFIT 2.29 BILLION RUPEES

• BALRAMPUR CHINI MILLS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 15.04 BILLION RUPEES

Source text: [ID:]

Further company coverage: BACH.NS

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Removes reference to court in paragraph 5 to clarify that Samsung is not suing the government

By Aditya Kalra

NEW DELHI, April 15 (Reuters) - In India, the world's largest consumer of sugar, the federal government and producers have locked horns in court over a contentious issue: jute bags.

Prime Minister Narendra Modi's government has been tightening enforcement of a 1987 law, which obliges sugar mills to pack 20% of their supplies in jute bags or face fines for non-compliance, in a bid to support the traditional fibre industry.

The law now faces a legal challenge from Indian sugar mills, which say using jute bags each year costs them an additional $76 million compared to recyclable plastic ones. They also argue the fibre bags also increase the risk of sugar contamination, previously unreported court documents show.

The Indian government says contamination concerns are unfounded as jute bags are more robust and pest resistant than recyclable plastic packaging, its court filing shows. It also told the High Court in Karnataka that the law was a "welfare legislation" important to safeguard the traditional industry which supports 4 million agricultural families.

The lawsuits mark the latest tussle between big companies and Modi's government. Global and Indian electronic companies, including Daikin 6367.T and Samsung 005930.KS, are separately fighting Modi over moves to regulate how much they must pay for e-waste recycling.

The filings related to the lawsuit which started in August are not public and were reviewed by Reuters this week. The Karnataka High Court is set to start hearing final arguments in the case on Wednesday, with a ruling expected in coming weeks.

In December, one letter shows, the government warned sugar mills non-compliance with jute packaging rules will "be viewed seriously and strict action will be taken".

The sugar industry group and India's government did not respond to Reuters queries.

Sugar producers said in the court filings that jute bag rules were also a spoiler for business, with many buyers reluctant to take such bags.

The South Indian Sugar Mills Association said that its bulk consumers "like Pepsi, Coke, Britannia, ITC, Nestle ... do not accept sugar in jute bags due to quality, contamination, hygiene and food safety risks."

With an estimated 28 million tons of consumption, India is the world's biggest sugar consumer ahead of China.

Modi, a longstanding supporter of traditional and rural sectors, has been vocal about protecting the jute industry. In 2023, he said such "reservation norms" for jute packaging contributed towards "revitalising" the sector and helped farmers.

(Reporting by Aditya Kalra; Additional reporting by Mayank Bhardwaj
Editing by Tomasz Janowski)

((Email: [email protected]; X: @adityakalra;))

** Shares of Balrampur Chini Mills BACH.NS drop 4.6% to 453.25 rupees

** Sugar producer reports 23% Y/Y fall in third-quarter profit, rev from ops down 3%

** Co reports loss of 85.3 mln rupees in its second-biggest business, distillery, compared to year-ago profit of 351 mln rupees

** Avg rating of seven analysts on BACH at "strong buy"; median PT is 682 rupees - LSEG data

** Stock gained 29% in 2024

(Reporting by Kashish Tandon in Bengaluru)

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** Indian sugar companies gain between 2.4% and 6.6%

** Indian government preparing for final decision on proposed ethanol price increase, ET Now reports citing sources

** Report says price of ethanol made from B-heavy molasses expected to rise by ~2 rupees/litre, while price of ethanol made from sugarcane juice likely to climb 1.50 rupees/litre

** Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, Dhampur Sugar Mills DAMS.NS, Dalmia Bharat Sugar and Industries DLMI.NS, E.I.D. - Parry (India) EIDP.NS, Shree Renuka Sugars SRES.NS, Triveni Engineering and Industries TREI.NS up 2.4%, 3.9%, 6.6%, 4.8%, 3%, 4.1% and 2.9%, respectively

** In 2024, BJHN, BACH, TREI, EIDP advanced 9.2%, 29.1%, 32.3%, 60.5%, respectively; SRES lost 16.3%, DLMI fell 12% and DAMS shed 36.3%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Indian sugar companies jump between 3% and 7%

** ET Now reports citing sources that India is likely to lift restrictions on sugar exports

** India, the world's biggest sugar producer after Brazil, had banned mills from exporting the sweetener from Oct. 1, 2023

** Triveni Industries and Engineering TREI.NS, Shree Renuka Sugars SRES.NS, Dalmia Bharat Sugar DLMI.NS, Bajaj Hindusthan Sugar BJHN.NS and Balrampur Chini Mills BACH.NS jump 3%, 4.5%, 5.5%, 7.0%, and 7.2%, respectively

** In 2024, SRES fell 16%, DLMI was down 12%, while BJHN, BACH and TREI rose 9%, 29% and 32%, respectively

(Reporitng by Nishit Navin)

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By Rajendra Jadhav

MUMBAI, Dec 23 (Reuters) - Sugarcane yields in India are declining due to last year's drought and this year's excessive rains, which could reduce the country's sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.

Lower-than-expected output by the world's second-largest sugar producer could eliminate the possibility of India allowing exports in the current season ending in September 2025, supporting global sugar prices SBc1, LSUc1.

Maharashtra, Karnataka, and Uttar Pradesh account for more than 80% of the country's total sugar production, with lower cane yields in these states prompting trade houses to reduce their output estimates for the 2024/25 season.

The production could fall to around 27 million metric tons from the last year's 32 million tons and below annual consumption of more than 29 million tons, said India head of a global trade house, who declined to be named.

"During the summer months, the cane crop faced prolonged stress due to the lack of water," B.B. Thombare, president of the West Indian Sugar Mills Association told Reuters.

"When the monsoon season began, there was excessive rainfall and limited sunshine, which also adversely affected the crop's growth."

The adverse weather curtailed cane yields by 10 to 15 tons per hectare, Thombare said.

The western state of Maharashtra and neighbouring Karnataka, which together produce nearly half of India's sugar, received lower-than-average rainfall in 2023, bringing down reservoir levels.

"Usually, we harvest 120 to 130 tons of cane from one hectare of land, but this year yields have fallen to 80 tons despite all our efforts," says Shrikant Ingle, who cultivated cane on five acres of land in Maharashtra's Solapur.

Drought did not affect the crop in Uttar Pradesh, the country's leading sugar-producing state in the north.

However, plantations in the state were impacted by red rot disease, which reduced sugarcane yields, said a senior state government official.

"To control the spread of the disease, we are advising farmers to adopt new cane varieties," the official said.

The downward revision in the production estimate has eliminated the possibility of any exports in the current season, the head of the trade house said.

Sugar industry seeks 2 million tons of exports, while the government says it may allow limited exports, if any surplus remains after ethanol needs are met.

(Reporting by Rajendra Jadhav; Editing by Janane Venkatraman)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

By Rajendra Jadhav

MUMBAI, Dec 5 (Reuters) - Sugar prices in India fell to their lowest level in 1-1/2 year due to ample supplies, making it difficult for mills to pay farmers the cane price as the crushing season gains momentum, industry officials told Reuters.

The fall in prices is prompting industry to demand immediate revision in minimum selling price (MSP) to limit losses, which will improve mills' margins and allow them to make timely cane payments to millions of cane growers.

"Sugar prices have fallen below the cost of production. This makes it difficult for mills to pay the revised cane price unless sugar prices rise," said B.B. Thombare, president of the West Indian Sugar Mills Association.

Wholesale sugar prices SUG-ARSKOL-NCX at Kolhapur in western state of Maharashtra have fallen nearly 8% in past four months to 33,675 rupees ($397.60) per ton, the lowest since June 2023.

The government should quickly raise the MSP above 40,000 rupees per ton to make cane crushing viable for sugar mills, Thombare said.

Indian trade bodies have been demanding an increase in the MSP, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Sugar prices are falling as demand has decreased after the festival season, and new season supplies have begun, said Ashok Jain, president of the Bombay Sugar Merchants Association.

Indian mills have produced 2.79 million metric tons of sugar since the current season began on Oct. 1, down 35.4% year on year, a leading industry body said on Monday.

Mills in Maharashtra, which recently underwent state elections, sold more sugar than allocated, as mills controlled by politicians needed funds for election campaigns, said a Mumbai-based trader.

"The market was flooded with sugar in the past two months. This is why mills are now struggling to sell sugar, even at lower prices," the trader said.

($1 = 84.6950 Indian rupees)

(Reporting by Rajendra Jadhav; editing by David Evans)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

Nov 11 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS SEPT-QUARTER CONSOL PROFIT 671.8 MILLION RUPEES

• BALRAMPUR CHINI MILLS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 12.98 BILLION RUPEES

• BALRAMPUR CHINI MILLS LTD - DIVIDEND 3 RUPEESPER SHARE

Source text: ID:nNSE4Ck49p

Further company coverage: BACH.NS

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* India's sugar companies jump between 6.5% and 10.2%

* Food minister on Thursday said that India is considering raising domestic prices of ethanol and sugar

* Shree Renuka Sugars SRES.NS, Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, EID Parry (India)EIDP.NS rose 10.2%, 6.5%, 8.3%, and 3.6%, respectively

* YTD SRES up ~12%, while BACH, BJHN, and EIDP gained ~58%, ~55%, and ~54%, respectively

(Reporting by Vijay Malkar)

(([email protected];))

** Shares of Indian sugar makers down between 2%-3%

** India plans to extend a ban on sugar exports for the second straight year as it grapples with the prospects of lower cane output, government sources told Reuters

** Shree Renuka Sugars SRES.NS down 3%

** Balrampur Chini Mills BACH.NS down 2.6%

** Dalmia Bharat Sugar and Industries DLMI.NS down 2.4%

** Dwarikesh Sugar Industries DWAR.NS down 2.4%

** Triveni Engineering TREI.NS down 3%

** YTD, SRES is up 0.9%, BACH up ~40%, DLMI up 9.5% while DWAR is down 16.1%, TREI up 38%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Indian sugar makers gain between 6% and 9%

** Sugar mills in India will be allowed to produce ethanol from cane juice from Nov. 1, the govt said, after imposing curbs in 2023

** Balrampur Chini Mills BACH.NS jumps 6.2%, Shree Renuka Sugars SRES.NS gains 7.4% and Bajaj Hindusthan Sugar BJHN.NS adds 8.5% in early trade

** BACH has gained 50% YTD, while SRES and BJHN advanced 8% and 58%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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Adds details, comments from industry officials

By Rajendra Jadhav

MUMBAI, Aug 29 (Reuters) - India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday.

The world's second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output after cane crop was hit by below-average monsoon rains.

In the new season, distilleries can also use B-heavy molasses, a byproduct with higher sucrose levels, for ethanol production, the government said in the notification.

Around 750,000 metric tons of B-heavy molasses are lying in stock with mills after the government restricted ethanol production from this feedstock last year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"Now that the restriction is lifted, they can use these stocks," Naiknavare said.

Indian sugar mills such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS have increased their ethanol production capacity in the last few years.

The south Asian country also allowed distilleries to purchase up to 2.3 million metric tons of rice from the state-run Food Corporation of India (FCI) for ethanol production, the government said in a separate notification.

"The permission to utilise FCI rice as a feedstock will enhance ethanol production from dual-feed distilleries," said Vijay Nirani, managing director of TruAlt Bioenergy Ltd.

The two policy changes will not only help increase ethanol blending in gasoline but also help mills and distilleries make timely cane payments to millions of farmers, Nirani said.

India aims to increase ethanol production to blend 20% ethanol into gasoline by 2025-26, from around 13% now.

(Reporting by Rajendra Jadhav; Editing by Kirsten Donovan and Devika Syamnath)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

Aug 12 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL PROFIT 701.5 MILLION RUPEES

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 14.22 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BACH.NS

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BENGALURU, Aug 2 (Reuters) - India's Dalmia Bharat Sugar and Industries DLMI.NS reported a 10.8% fall in first-quarter profit on Friday, hurt by higher inventory and expenses.

The company, which supplies sugar to companies like Coca-Cola KO.N, Britannia BRIT.NS, Dabur DABU.NS, and Carlsberg CARLb.CO, reported consolidated net profit of 547.3 million rupees ($6.5 million), compared to 613.4 million rupees year ago.

Revenue from operations rose 15.2% to 9.6 billion rupees. However, total expenses rose 19.2% to 9.01 billion rupees.

For further results highlights, click nFWN3JP2T9

KEY CONTEXT

Indian sugar companies have been battling increased inventory costs. While Dalmia Bharat's inventory cost rose more than two-fold in the first quarter, rival Dwarikesh Sugar Industries DWAR.NS and Dhampur Sugar Mills DAMS.NS saw those expenses grow more than five-fold and nearly 10% respectively.

India, the world's largest sugar consumer and second-biggest producer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices, leading to a larger inventory for the companies.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.7250 Indian rupees

(Reporting by Ashish Chandra in Bengaluru)

(([email protected]; +91 7982114624;))

** Shares of Colgate-Palmolive (India) COLG.NS jump 6.2% to a record high of 3,410 rupees

** The personal-care products maker is top gainer on Nifty FMCG index .NIFTYFMCG, which is up 0.4%

** Co posted a 33% rise in Q1 profit, sales rose 13%

** Analysts' avg. rating is "hold", median TP 2,800 - LSEG

** Stock last up 5.5%, set for fourth straight session of gains and taking YTD jump to 34.4%

** That is 2nd best on 15-member FMCG index, only trailing Varun Beverage's VARB.NS ~36% rise; index itself is up ~10%

** COLG's fwd PE of 54 is 6th lowest among index members, whose PE's range from VARB's 71.6 to Balrampur Chini BACH.NS 16.5

(Reporting by Yagnoseni Das in Bengaluru)

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Repeats July 27 story to reach additional subscribers with no changes to text

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of Indian sugar companies surge on reports govt will increase minimum selling price for the commodity

** Shares of Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Bajaj Hindusthan Sugar BJHN.NS Dhampur Sugar Mills DAMS.NS and Balrampur Chini Mills BACH.NS rise between 4% and 14%

** EID Parry EIDP.NS up 2%

** BJHN hits highest since Sept 2011

** Bajaj Hindusthan top gainer among sugar stocks YTD, up 50%, while Dhampur down 1.5% so far this year

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Uttam Sugar Mills UTSM.NS down as much as 5.1% to 333.75 rupees; last down 4.7%

** Co on Monday reported a near 40% Y/Y fall in its Q4 profit; revenue from operations fell 11.8%

** More than 115,000 shares change hands as of 12:48 p.m. IST, 0.8x 30-day average

** Stock on track for a fourth consecutive session of losses, if trend holds

** Including session's move, stock is down 17.4% YTD, outpacing fall in its peers Dhampur Sugar Mills DAMS.NS and Balrampur Chini Mills BACH.NS which are down 12.3% and 7.7%, respectively

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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By Rajendra Jadhav and Mayank Bhardwaj

MUMBAI/NEW DELHI, May 1 (Reuters) - India's sugar production has been higher than expected this year after the completion of cane crushing at most of its mills, industry officials said on Wednesday, with a late pick-up in rains raising output.

With the majority of India's sugar mills having now completed crushing for the 2023/24 season, output so far stands at 31.59 million metric tons, according to the National Federation of Cooperative Sugar Factories Ltd (NFCSF).

That is down 1.8% from the previous full year, but already above the around 29 million metric tons expected at the start of the current season due to drought in Karnataka and Maharashtra states.

A handful of mills are still left to report, with only around two dozen of the 532 mills operational this season still in action, the officials said, including two in top sugar-producing state Maharashtra and 13 in the northern state of Uttar Pradesh.

Mills in the southern state of Karnataka and the western state of Gujarat have altogether completed cane crushing.

November rains helped the sugarcane crop, and yields improved, Ravi Gupta, executive director at Shree Renuka Sugars Ltd SRES.NS, a leading producer, told Reuters.

Output in Maharashtra has jumped to 11 million tonnes, up from 10.53 million tonnes produced a year ago, NFCSF said. Production in Karnataka is estimated at 5.26 million tons, lower than last year's 5.8 million tons but above initial estimates.

However Uttar Pradesh was expected to be a laggard, with production so far around 10.4 million metric tons, according to a senior industry official who did not wish to be named, and output still to be reported likely to be marginal.

It had been forecast to churn out more than 11.5 million tons of sugar this year.

Red rot disease hit the cane crop in Uttar Pradesh, while cane was diverted for the production of alternative sweeteners such as jaggery, said Avantika Saraogi, executive director at Balrampur Chini Mills BACH.NS, a leading producer.

(Reporting by Rajendra Jadhav and Mayank Bhardwaj; Editing by Jan Harvey)

(([email protected]; Twitter: @MayankBhardwaj9;))

NEW DELHI, April 24 (Reuters) - India has agreed to allow oil marketing companies to procure ethanol by diverting an extra 800,000 metric tons of sugar for biofuel production, a government source said on Wednesday.

Concerns over sugar production due to below normal monsoon rains between June and September had led the world's second-largest to cap the amount that could be diverted for ethanol in the current season to end-September at 1.7 million metric tons.

But as the supply situation has improved as a result of unseasonal rainfall in Maharashtra and Karnataka, the government has agreed to the diversion of an additional 800,000 tons of sugar for ethanol production, said the senior industry official.

"Many sugar mills produced B-heavy molasses in anticipation of ethanol production. However, these stocks remain unused after the government capped the diversion of sugar for ethanol. Mills can now use stored B-heavy molasses for ethanol production," said the official, who spoke on condition of anonymity.

(Reporting by Mayank Bhardwaj and Rajendra Jadhav; Editing by Alexander Smith)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

By Rajendra Jadhav

MUMBAI, April 23 (Reuters) - India's sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures.

Higher consumption would lift local prices and boost margins of sugar producers such as Balrampur Chini BACH.NS, Shree Renuka Sugars SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS and help them in making cane payments on time to farmers.

Consumption of cold drinks and ice cream, and as a result demand for sugar, rises in India during the summer months roughly from mid-March to mid-June.

But this year demand is above average as heat waves and election rallies boost consumption of ice-cream and soft drinks, said Avantika Saraogi, executive director at Balrampur Chini Mills.

Maximum temperatures in many parts of India have risen above 40 degrees Celsius, and the weather department has forecasted that the country is likely to experience more heat-wave days than normal between April and June.

During the harsh summer, India is hosting the world's largest election, in which nearly a billion people will be eligible to vote.

Political parties hold huge rallies, some attended by as many as 200,000 people, undeterred by the sweltering heat, which only intensifies as the campaign picks up pace.

Earlier this week, following an energetic election rally at Pune in the scorching afternoon sun, dedicated workers of a political party flocked to a nearby restaurant to quench their thirst with refreshing soft drinks.

"It's sweltering out there. We need something icy to keep us going in this heat," said Mahesh Pawar, one of the workers.

"We're grateful to our leader for providing us with these refreshing beverages to keep our spirits high."

SWEET SUMMER

India's sugar consumption in during April-June could rise to 7.5 million tons, up 5% from a year ago, said a Mumbai-based dealer with a global trade house.

This year's unusual rise in consumption is temporary, with demand growth returning to a normal pace next year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"But right now the industry is experiencing an unusual boost in demand. This is expected to lift total consumption this year to a record 29 million metric tons," Naiknavare said.

India's sugar consumption in the 2022/23 marketing year, which ended on Sept. 30, stood at 27.85 million tons.

Higher demand has already begun lifting sugar prices, which have risen nearly 3% in a fortnight.

The government has allocated a higher quota for April compared to last year, but prices are still rising due to robust demand from bulk consumers, said Ashok Jain, president of the Bombay Sugar Merchants Association.

(Reporting by Rajendra Jadhav; editing by David Evans)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of sugar firms EID Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka Sugars SRES.NS, Dwarikesh Sugar DWAR.NS, Bajaj Hindusthan Sugar BJHN.NS settle 1.5%-5% lower

** Indian government on Monday ruled out possibility of allowing sugar exports in 2023-24 season ending October, newspaper Business Standard reported, citing Press Trust of India

** Sugar exports in India currently curbed for an indefinite period

** Fall amid broader sell-off in the markets, benchmark Nifty 50 .NSEI settled 1.1% lower

** YTD, BJHN and EIDP up 11.3% and 9.3%, respectively, while SRES, BACH and DWAR down 8.4%-15.7%

(Reporitng by Nishit Navin)

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DUBAI, March 6 (Reuters) - India's Balrampur Chini Mills BACH.NS is likely to crush 10% more cane in the 2023/24 marketing year ending Sept. 30, a senior company executive said on Wednesday at a sugar conference in Dubai.

Cane availability has improved in the northern state of Uttar Pradesh, which will help the company increase crushing, said Avantika Saraogi, executive director of the company.

(Reporting by Sarah El Safty; Writing by Rajendra Jadhav; Editing by Jacqueline Wong)

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** Shares of sugar cos Dwarikesh Sugar DWAR.NS, Balrampur Chini Mills BACH.NS, EID Parry EIDP.NS, Shree Renuka Sugars SRES.NS and Bajaj Hindusthan Sugar BJHN.NS down between 1%-3%

** India says it will raise floor price that mills must pay for sugar cane in the 2024/25 season by 8% from Oct. 1

** Govt fixes buying price of sugar cane at 340 rupees ($4.10) per 100 kg for next season, up from this year's 315 rupees

** As of YTD, DWAR down 7.4%, BACH fallen nearly 8%, while SRES, EIDP and BJHN up between 3%-34%

($1 = 82.9140 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** Sugar maker Balrampur Chini Mills BACH.NS rises 4% at 387 rupees

** BACH says it will enter a new line of business to make polylactic acid using sugar as raw material, which will be used for production of bioplastics

** Avg anaylst rating on BACH is 'buy', median price target is 488 rupees - LSEG data

** BACH down nearly 6% YTD vs 7.3% gain in Nifty small-caps index .NIFSMCP100

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

NEW DELHI, Dec 29 (Reuters) - India's state fuel retailers have raised procurement prices for ethanol made from C-heavy molasses by 6.87 rupees/litre, according to documents seen by Reuters on Friday.

(Reporting by Nidhi Verma; Editing by Savio D'Souza)

Dec 19 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• JOINT COMMISSIONER OF STATE PASSED ORDER FOR DISALLOWING, RECOVERING INELIGIBLE INPUT TAX CREDIT

Source text for Eikon: ID:nBSEbRlF4W

Further company coverage: BACH.NS

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** Indian sugar cos' shares rise after govt says it plans to allow sugar mills to divert up to 1.7 mln metric tons of sugar for ethanol production

** Shares of Dwarikesh Sugar DWAR.NS, EID Parry EIDP.NS, Shree Renuka Sugars SRES.NS, Balrampur Chini Mills BACH.NS, Triveni Engineering TREI.NS and Dhampur Sugar DAMS.NS up 3.5%-6.5%

** EID Parry and Balrampur Chini Mills are top gainers among the six sugar companies, up 3.5% and 5.3% each

** Dwarikesh Sugar and Dhampur Sugar are top pct gainers, rising 6% and 6.5%, respectively

** EIDP hits near 1-yr high, SRES and DWAR set to gain most since August

** Analysts' average rating on BACH, TREI is equivalent of "buy", per LSEG data

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of sugar companies like Dwarikesh Sugar DWAR.NS, EID Parry EIDP.NS, Shree Renuka Sugars SRES.NS Balrampur Chini Mills BACH.NS, Triveni Engineering TREI.NS, Dhampur Sugar DAMS.NS slump between 4.4%-6.4%

** Stocks slide as Indian government plans to discourage diversion of sugar for ethanol production as part of government efforts to increase sugar output

** Triveni Engineering and Balrampur Chini Mills among the top losers

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))