Indian sugar rise on reports of sugar export limits being extended

Bajaj Hindusthan Sugar

24/11/2022 06:06

** Shares of Indian sugar firms rise 1.8%-4.7%, after the Indian
Sugar Mills Association said India is likely to allow a further
2-4 million tonnes (mt) of sugar exports in the 2022/23 season 
    ** India, the world's biggest sugar producer and the second
biggest exporter behind Brazil, exported more than 11 mt of
sugar in the 2021-22 (October-September) season
    ** Bajaj Hindusthan Sugars Ltd  BJHN.NS  and Dwarikesh Sugar
Indurstries Ltd  DWAR.NS  up as much as 3.7% and 5.7%,
respectively 
    ** Dhampur Sugar Mills Ltd  DAMS.NS , Shree Renuka Sugars
Ltd  SRES.NS , Sakthi Sugar Ltd  SKSG.NS  and E.I.D - Parry
(India) Ltd  EIDP.NS  up between 2.4% and 3.8%  
    ** The government earlier this month approved a first
tranche of exports for 2022/23 at 6 mt in a move that helped cap
recent upward pressure on benchmark ICE sugar prices, Reuters
reported 
    ** A majority of the country's sugar is exported to
Indonesia, Bangladesh, Iraq, Malaysia, UAE, and African nations
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))