News Flash - 1st May, 2022
Best Management Award from Telangana State Government to NSL Krishnaveni Sugars Limited
We are happy to inform that our NSL Krishnaveni Sugars Limited received “Best Management Award” on the eve of Mayday Celebrations -2022.
This Award was received by our Whole Time Director Mr. M. Ravi Kumar and CEO, Mr. Prasad Babu from Honourable Ministers Shri. Mohd. Ali, Home Minister, Shri. Ch. Malla Reddy, Ministry of Labour & Employment and Shri. Talasani Srinivasa Yadav, Minister for Animal Husbandry, Fisheries & Cinematography.
This award was given based for maintaining harmonious Industrial Relations, Employee Welfare Measures and continuous improvement of Productivity in NSL Sugar divisions, Majorly Corporate Social Responsibility activities driven by our NSL group and Mandava Foundation.
Our responsibility further increased to take our NSL Sugars into further heights by increasing Productivity, Corporate Social Responsibility activities, Employee Engagement activities and strive in the direction of making NSL Sugars as ‘Great place to work’.
Agreement Signing Ceremony with Prime Minister of Netherland
New Delhi: June 5, 2015:
NSL-Sugar Limited entered into an agreement with Solidaridad to collaborate on sustainable production of sugarcane and work towards reducing business risks while enhancing farmer income. Solidaridad is an international nonprofit organization with more than 45 years of global experience in facilitating the development of socially responsible, ecologically sound, and profitable supply chains. The four year initiative will bring technical expertise from Netherlands to monitor crop water use and support decision making atfarmer and business level to minimize risks.
The partnership would work on implementing measures related to sugarcane production on reducing water use and promoting good agricultural practices. The project valued at Euros 4.8 Million with 50 percent contribution coming from Government of Netherlands-Sustainable Water Fund. Hindustan Unilever Foundation (HUF), India and LEI Wageningen University, Netherlands have committed to provide financial and technical support to this initiative.
This effort targets 25000 sugarcane farmers of Telangana and Karnataka state. The expected outcomes include 10-15 per cent yield improvement along with saving of 60 billion liters irrigation water and reduction of 16 per cent energy consumption.
The MOU was signed in the presence of the Hon’ble Prime Minister of The Netherlands, Mr. Mark Rutte.
Green Pool cuts sugar deficit, despite Brazil woes:
Green Pool cut its forecast for the world sugar production deficit, despite a relatively downbeat forecast for production in Brazil's drought-hit Centre South region, and even as a rebound in sugar prices faltered.
Australia-based Green Pool pegged the world production deficit in 2014-15 at 100,000 tonnes, down from a figure three months ago of a 1.0m-tonne shortfall.
Bitter days for China's Sugar Industry:
China's embattled sugar industry, facing pressure from foreign competitors and technological shortcomings, is caught in the middle of a year-long sales crisis.
According to latest statistics from the China Sugar Association (CSA), manufacturers delivered about 13,318,000 tonnes of sugar in the 2013/2014 "sugar-making period," which lasted from last October to September this year. But sales of sugar is a mere 77 percent of the same period last year, with 10.24 million tonnes sold by the end of August.
Kingsman lowers forecast for world sugar deficit:
Platts Kingsman avoided taking a stand on sugar price prospects, even as it cut its estimate for the world production deficit this season, in what would appear a bearish revision.
The influential consultancy, in the latest of a rash of estimates for world sugar supplies, lowered by 440,000 tonnes to 1.66m tonnes its forecast for the world production deficit in 2014-15, which started this month.
Sugarcane crushing operations across the country have about come to an end. Only 19 sugar mills are crushing at present. As compared to about 240.49 lakh tons of sugar produced between 1st October 2013 and 31st May, 2014, in the last 2013-14 sugar season, the Indian sugar industry has produced a record 279.57 lakh tons of sugar in the current 2014-15 sugar season between 1st October 2014 and 31st May 2015.
The sugar mills in Maharashtra have produced 104.75 lakh tons of sugar, followed by the sugar mills in Uttar Pradesh who have produced about 70.9 lakh tons and then mills in Karnataka who have produced 48.99 lakh tons.
As compared to the previous sugar season upto 31st May, the sugar mills in Maharashtra, Uttar Pradesh and Karnataka have produced about 28 lac tons, 6 lac tons and 8 lac tons respectively, more than what they produced in 2013-14 SS till that period.
In case of the fourth largest sugar producing State viz. Tamil Nadu, the production is significantly lower than last year when they had produced almost 11.8 lakh tons, but have produced 10 lakh tons in this sugar season.
As per the cane availability for the current sugar season and the current sugar production of about 279.57 lakh tons produced up to 31st May 2015, it is estimated that the sugar production for the full sugar season of 2014-15 would be around 283 lac tons, similar to that in 2006-07 SS, which was then the highest ever produced in the history of the Indian sugar sector.
From the beginning of the season and till 31st May, 2015, sugar mills across the country have moved 5.58 lac tons of sugar (both raw and white) for export purposes, of which about 3 lac tons of raw sugar has been exported after announcement of export incentives. Since global prices have also fallen to one of the lowest levels since 2009 at around 12 cents/lb, it is expected that not more than another 2 lac tons of sugar would get exported in the remaining period.
Taking into consideration the estimated domestic consumption of 248 lac tons and estimated exports of 7 to 8 lac tons, the country would end the season with massive sugar stocks of 103 Lac tons on 30th September, 2015. This is 43 Lac tons more than the normative requirement of the Government for meeting the initial months’ domestic requirement in the new sugar season.
In 2006-07 sugar season when the country produced 283.61 lac tons of sugar and was ending the season with 110 lac tons of sugar stocks, the Government, in order to help the sugar industry to dispose of the surplus stock and also to improve domestic sugar prices, took various measures which included:-
As compared to the sugar season of 2006-07, the current sugar season is worse, as cane price arrears of farmers are still pending at around Rs. 22,000 crore, this is the 5th year of surplus sugar production, there are no signs of farmers reducing their cane area, and sugar prices both in domestic and global market have fallen to the lowest levels in the last 6 to 7 years. This has worsened the financial health of the sugar industry, due to which banks are not coming forward to lend further loans.
Unlike the previous occasion i.e. in 2006-07, when the Government helped dispose off 110 lac tons of sugar by way of export incentives and buffer stocks, the Government this year in 2014-15 SS has announced export assistance only and that too just for 14 lac tons. The Government should immediately come out with some substantial assistance for sugarcane farmers and the sugar industry, otherwise many sugar mills cannot start their operations in 2015-16 SS, and sugarcane will remain un harvested in the fields.