Production of eight Indian industries increased by 5.5% in May 2020

The Vietnam Trade Office in India, quoted from India’s Ministry of Industry and Trade, said that eight industries including electricity, coal, cement, crude oil, gas, petrochemicals, fertilizer and steel production accounted for 40, 27% weight, growth of 5.5% in February.

Output of eight Indian industries grew

Output of eight Indian industries, including electricity, coal, cement, crude oil, gas, petrochemicals, fertilizer and  sắt thép xây dựng  production, grew 5.5% in February 2020.

These 8 industries accounted for 40.27% of the industrial production index, accumulated in the 11 months of the current fiscal year (from April 2019 to February 2020), these industries grew by 1% compared to with the same period last year.

According to data from the Ministry of Industry and Trade of India, coal output (accounting for 10.33%) increased by 10.3% in February, accumulated from the beginning of the financial year this index decreased by 1.2% compared to the same period. last year.

Crude oil production (accounting for 8.98% of the proportion) decreased by 6.4% in February, accumulated from the beginning of the year, this index decreased by 6.0%.

Petrochemical output also decreased continuously in recent months, down 9.6% in February, cumulative index increased by 0.3% in the past 11 months.

Gas output accounted for 6.88% of the proportion also decreased 9.6% in February, the cumulative index decreased 4.8%.

Particularly, the electricity supply has increased sharply by 11.0% in February, from the beginning of the fiscal year 2019-2020, this index increased by 1.8% compared to the same period last year.

Indian sugar exports are forecast to increase in 2020

India’s sugar exports are expected to increase in 2020 when Indonesia is in need of importing about 1.3 million tons from India in May 2020. 

Mr. Abinash Verma, General Director of the Indian Sugar Millers Association (ISMA), said India’s export opportunities have increased, as world sugar is forecast to be in the deficit of 8 – 9 million tons. in 2019-2020. 

Some countries, including Indonesia, show an interest in this product of India, while Thailand’s sugar production (India’s main competitor) is expected to be lower than forecast (about 3. – 4 million tons).

According to the Indian Ministry of Food, as of 2/2020, the country has exported more than 2 million tons of sugar and continues with this momentum, expected to reach 5 million tons in the sugar cane year 2019 – 2020 (from October 2019. to September 2020). 

The Indian government has set targets and allowed sugar mills of this country to export 6 million tons of sugar in 2019-2020, in order to free up very high inventories of sugar. Thereby helping these plants soon balance their finances and repay the sugarcane debt to the farmers. 

Currently, the Indian government is applying an export subsidy policy of INR 10.4 thousand / tonne to factories, which is transferred directly to farmers’ accounts to pay sugarcane debt to farmers. factory. 

In the sugar cane year 2018 – 2019, India allowed factories to export 5 million tons of sugar, however, in fact they only exported 3.8 million tons. As of February 15, 2020, India’s sugar production reached 16.98 million tons, lower than the 21.96 million tons of the same period last year.

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2020/04/23Thể loại : Construction steelTab : Production of eight Indian industries increased by 5.5% in May 2020