The government has decided to extend the deadline for sugar mills to apply for permits to export sugar under the open general license scheme (OGL) by 15 days. Hence, for those mills exporting their own sugar, the new deadline will be June 2 for applying for permit to Food Ministry; while deadlines for factories sourcing sugar from third party is June 17. Earlier, for mills exporting their own sugar, the food ministry had set the May 18 deadline and for factories sourcing sugar from third party, the deadline was June 2. However, the government has decided not to give any further extensions on this front.
Meanwhile, the Food Ministry on April 19 had notified exports of 5 lakh tonne of sugar under Open General License (OGL), out of which 51,500 tonne were reserved for neighboring countries and the quota of 4,48,500 tonne was allocated to mills based on the average production for three years. The permission was given to 83 mills.
The government had come to the decision of allowing sugar exports under OGL as the domestic sugar production is expected to outstrip demand after a gap of two years. Further, the retail prices of sugar have also declined sharply in the national capital to Rs 30-32 per kg from nearly Rs 50 per kg in January last year.
The sugar production of India - the world’s second largest producer after Brazil is estimated to rise to 24.5 million tonne (MT) in the 2010-11 sugar year (October-September) from 19 MT in the previous year; while the country’s annual demand is pegged at 22 MT.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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