Balrampur sugar mills confident of growth due to government’s emphasis on ethanol


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When asked about El Nino effect, Saraogi said that eastern Uttar Pradesh is in a better position in this regard. On the State Advisory Price (SAP) of sugarcane in the upcoming crushing season, Avantika Saraogi said she does not expect any major increase in the price amid the Lok Sabha elections next year.

Balrampur Sugar Mills Limited is excited to maintain its strong double digit growth due to favorable environment for higher sugar production and special focus by the government on ethanol. A senior official of the company gave this information. The government’s push on renewable fuels is helping the company significantly diversify into the energy sector, the official said. Avantika Saraogi, promoter and business lead (new initiatives), Balrampur Sugar Mills, said the rising sugar prices are a reflection of cost pressure for sugar mills and it will start reducing by November.

Revenue growth for the current year and next year is expected to be between 12 to 15 per cent due to better realisations, he told PTI in an interview. Based on current estimates, this growth is expected to be around 10 percent. The company’s chairman and managing director Vivek Saraogi said, “The better realization will be due to better utilization of the crushing assets of 11 crore quintals of sugarcane across 10 manufacturing plants. The second factor is modern scientific intervention at the farm level, which is helping to boost yield and recovery.” Crushing in the year 2022-23 was 1,030 crore quintals, which is 16 percent more than the year 2021-22.

He said the receipts in 2020-21 and 2021-22 were very low because there were severe floods. The official said Avantika Saraogi is the face of the next generation of innovators who are working on production and quality interventions with 5.5 lakh farmers. When asked about El Nino effect, Saraogi said that eastern Uttar Pradesh is in a better position in this regard. On the State Advisory Price (SAP) of sugarcane in the upcoming crushing season, Avantika Saraogi said she does not expect any major increase in the price amid the Lok Sabha elections next year.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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