India's sugar stocks surge as prices climb on production concerns

Bajaj Hindusthan Sugar

06/09/2023 05:33

** Shares of Indian sugar manufacturers rise between 1.7% and
6.1%
    ** Sugar prices in India have jumped by more than 3% in a
fortnight to their highest level in six years, Reuters reported
on Tuesday
    ** Limited rainfall in the country's key growing regions
raised production concerns for the upcoming season which could
add to food inflation and discourage New Delhi from allowing
sugar exports, supporting global prices which are near their
highest in more than a decade
    ** Balrampur Chini Mills  BACH.NS  up as much as 2.2%, Shree
Renuka Sugars  SRES.NS  climbs 5.5%, Dalmia Bharat Sugar
 DLMI.NS  gains 8% and Dwarikesh Sugar  DWAR.NS  adds 3.7%
    ** Higher prices will, however, improve margins for
producers such BACH, DWAR, SRES and DLMI, helping them make
payments on time to farmers, dealers told Reuters

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))