Epic Research Daily Agri Commodity Report Of 15 April 2019

India’s money-losing sugar mills have run up a record $4.38 billion in arrears to 50 million cane farmers, who have gone unpaid for their produce for more than a year, industry and government sources said on Thursday. Years of bumper cane harvests and record sugar production have hammered domestic prices, hitting mills’ financial health to such an extent that monies owed to farmers, who form an influential voting bloc, have ballooned to an all-time high. Farm leaders say Prime Minister Narendra Modi’s government has not done enough to help them get the cash owed them. Modi’s office did not respond to an email seeking comment. “The prime minister publicly promised farmers – in 2014 and 2017 – to help them get their payments within 15 days of selling their produce to sugar mills,” said M.V. Singh, convener of the Rashtriya Kisan Mazdoor Sang, or National Forum of Farmers and Labourers. Despite the promise, Modi’s government has done little to . to ensure timely payments, Singh said. The unpaid dues affect growers in the key cane-roducing states of Uttar Pradesh, Maharashtra, Bihar, Punjab, Haryana and Karnataka.

GUARGUM

BUY GUARGUM MAY ABOVE 9229 TARGET 9259 9319 9369 SL BELOW 9179

SELL GUARGUM MAY BELOW 9110 TARGET 9080 9020 8970 SL ABOVE 9160

DHANIYA

BUY DHANIYA MAY ABOVE 7284 TARGET 7299 7359 7429 SL BELOW 7254

SELL DHANIYA MAY BELOW 7220 TARGET 7205 7145 7075 SL ABOVE 7250


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