Indian sugar stocks shine as prices remain elevated
BUZZ-Indian sugar stocks shine as prices remain elevated ** Shares of Indian sugar producers rise as elevated domestic sugar prices raise expectations of better realisations for mills
** Shree Renuka Sugars SRES.NS jumps 7.32%, Dhampur Sugar DAMS.NS gains 6.81%, Avadh Sugar AVAD.NS rises 4.46%
** Bannari Amman Sugars BANN.NS adds 2.01% and Balrampur Chini Mills BACH.NS gains 0.9%
** Sugar prices have risen in recent weeks on lower-than-expected production, higher demand and weather-related damage to sugarcane crop
** Government has stepped in to cool prices, imposing stockholding limits and allowing duty-free imports of 1 mln metric tons of raw sugar until October 31
** India expects sugar production of about 30.6 mln tons this season, below an initial estimate of 34.3 mln tons
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Recent news on Avadh Sugar & Energy
See all newsIndian sugar stocks fall after government reduces stock holding limits
Weak monsoon, strong export demand lift Indian rice stocks; sugar rally extends
Indian sugar stocks shine as prices remain elevated
Indian sugar stocks jump after government imposes inventory limits as price hits record high
Indian sugar stocks fall on possible curbs on cane use for ethanol