India has seen wide fluctuation in sugar production over the years. The sugar
production in India had witnessed a sharp drop in SS 2008-09 and recovered in
the subsequent sugar seasons. In SS 2010-11, the country produced about 24.5
million tonnes of sugar, registering a growth of 30 per cent on a yoy basis.
This was mainly attributable to the higher acreage under sugarcane, improved
yield and recovery rate. The sugar consumption in India has grown at a steady
pace over the past years. During the period SS 2000-01 to SS 2010-11, sugar
consumption in the country grew at a CAGR of 2.5 per cent. In the current
sugar season (SS 2011-12), enthused by higher sugarcane prices offered to the
farmers, sugar cane acreage is expected to increase by 3 per cent on a yoy
basis.
What will be the production and consumption scenario of sugar in SS 2012- 13?
To what extent major sugar-producing states will be affected on account of
deficient rainfall? Will the supply glut situation continue in the next sugar
season? How the sugar prices are expected to trend in SS 2012- 13? Will the
implementation of ethanol blending programme be successful? The report seeks
to answer the above issues using reliable sources of the primary and secondary
data and CARE Research's views on the same.
CARE Research's report on the ‘Indian Sugar Industry' contains
comprehensive data and analysis of the sector apart from giving CARE's outlook
on the sector. By developing sophisticated model, with its established network
of the primary and secondary sources, CARE Research has tried to analyse
different business models adopted by the sugar industry.
The report is indispensable for any company in the sugar industry, banks/ FIs,
policy makers, research and academic organizations, other international and
national agencies etc. Additionally, the four quarterly updates, from the date
of subscription, alongwith this report would form a potent tool for the
subscribers to keep abreast of the happenings in the industry.
About CARE Ratings
Credit Analysis & REsearch Ltd. (CARE), promoted in 1993 by some of the
leading Indian banks and financial institutions including Industrial
Development Bank of India (IDBI), Canara Bank and others is amongst the
premier credit rating agencies in India and provides credit rating, research
and information services. CARE Ratings is well equipped to rate all types of
debt instruments including Commercial Papers, Fixed Deposits, Bonds,
Debentures, Hybrid Instruments, Preference Shares, Loans, Structured
Obligations, Asset Backed Securities, Residential Mortgage Backed Securities
etc. CARE's rating methodologies are in line with the best international
practices.
Table of Contents
SECTION -I: CARE Research's Outlook
OUTLOOK
Sugar production outlook
Sugar consumption scenario
Overall demand and supply scenario
Sugar price outlook
Global scenario
Ethanol blending programme
SECTION - II: Industry Section
INDUSTRY OVERVIEW
Overview of sugar sector in India
Evolution of Indian sugar sector
Characteristics of sugar sector in India
Types of sugar
GOVERNMENT REGULATION AND INCENTIVES
Sugarcane-related policies
Sugar-related policies
DEMAND - SUPPLY SCENARIO IN INDIA
Pre 1990 era
Post 1990 era
Demand-supply scenario during SS 1990-91 to SS 2002-2003
Demand-supply scenario in SS 2003-04
Demand-supply scenario in SS 2004-05
Demand-supply scenario in SS 2005-06
Demand-supply scenario in SS 2006-07
Demand-supply scenario in SS 2007-08
Demand-supply scenario in SS 2008-09
Demand-supply scenario in SS 2009-10
Demand-supply scenario from SS 2010-11 onwards
Demand and Supply Drivers
STATE-WISE SCENARIO
State-wise acreage under sugarcane cultivation
State-wise sugarcane production
State-wise sugarcane yield
State-wise sugar production
State-wise analysis
Maharashtra
Uttar Pradesh (UP)
Karnataka
GLOBAL SCENARIO
Global sugar production
Global sugar trade
International sugar prices
Brazil sugar industry
COST AND MARGIN ANALYSIS
Cost analysis
Sugarcane production
Sugarcane pricing
Margin analysis
SUGAR BY-PRODUCTS
Overview
Bagasse
Molasses
Business model analysis
SUGAR PRODUCTION PROCESS
SECTION - III: Company Scan
Bajaj Hindustan Ltd.
Shree Renuka Sugars Ltd.
Triveni Engineering & Industries Ltd.
SECTION - IV: ANNEXURES
Sugarcane- state-wise production
Sugarcane- state-wise area under cultivation
Sugarcane- state-wise yield
Sugarcane- state-wise duration of crushing season
Sugarcane- state-wise sugarcane crushed by sugar factories
Sugar- state-wise production
State-wise sugar recovery rate
Sugarcane utilisation for different purposes
Month-wise sugar production
List of Tables
SECTION - I: CARE Research's Outlook
OUTLOOK
State-wise estimated acreage under sugarcane
Overall demand-supply situation
Comparison of profitability under different grades of feed stock used for
ethanol production
SECTION - II: Industry Section
INDUSTRY OVERVIEW
Number of factories in operation in India and average capacity per day
Comparison of regulatory environment in top sugar-producing countries
Top five sugar-producing states in India in SS 2010-11
GOVERNMENT REGULATION AND INCENTIVES
Trend in statutory minimum prices
State advised price
Sugar release policy
Import duty structure
DEMAND - SUPPLY SCENARIO IN INDIA
Area under sugarcane production, yield and sugar production (Pre 1990 Era)
Demand-supply trend (Pre 1990 Era)
Yield rates in major sugar-producing states
Sugarcane utilized for sugar and gur/ khandsari
Area under sugarcane cultivation in top five sugarcane-producing states
(SS 2006-08)
Comparison of SMP for Wheat and Sugarcane (SS 2007-09)
Sugarcane scenario: top five states
Comparison of SMP for Wheat and Sugarcane (SS 2007-10)
Sugarcane scenario: top five states (SS 2009 -10)
Area under sugarcane production, yield and sugar production (Post 1990 Era)
Demand-supply trend (Post 1990 Era)
Comparison of SMP for Wheat and Sugarcane (SS 2007-12)
Trend of sugar consumption and population
Trend in recovery rate
STATE-WISE SCENARIO
Area under sugarcane production, yield and sugar production in Maharashtra
Area under sugarcane production, yield and sugar production in Uttar
Pradesh
Area under sugarcane production, yield and sugar production in Karnataka
GLOBAL SCENARIO
Global sugar Production
Brazil sugar Exports
Brazil ethanol Exports
COST AND MARGIN ANALYSIS
Company-wise raw material cost
Major sugarcane producing states in tropical and sub-tropical regions
Company-wise sugarcane cost
SUGAR BY-PRODUCTS
State-wise grid interactive installed power capacity
State-wise potential v/s actual grid interactive power capacity
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