Indian sugar stocks sweeten on report Cabinet meeting may consider export subsidy

Bajaj Hindusthan Sugar

16/12/2020 07:47

** Shares of sugar cos rise in anticipation of govt approval
for sugar export subsidy in Wednesday's cabinet meeting
    ** Union Cabinet may consider proposal to provide export
subsidy worth 36 bln rupees ($489.53 million) to sugar mills for
marketing year 2020-21, Business Standard reported https://www.business-standard.com/article/economy-policy/cabinet-may-consider-proposal-to-offer-rs-3-600-cr-sugar-export-subsidy-120121501228_1.html,
 citing sources 
    ** Reuters in Nov reported that India had revived proposal
to get sugar mills to export 6 mil tonnes of the sweetener by
incentivising overseas sales in the 2020/21 season  urn:newsml:reuters.com:*:nL1N2HW1A2
    ** Shares of Avadh Sugar & Energy  AVAD.NS  , Bajaj
Hindustan Sugar  BJHN.NS , Balrampur Chini Mills  BACH.NS  ,
Dhampur Sugar Mills  DAMS.NS , Rana Sugars  RNSG.NS  , Mawana
Sugars  MAWS.NS  up between 0.4% and 5.5%
    ** In the 2019/20 season, export subsidy of 10,448 rupees
($142) a tonne helped India export a record 5.7 million tonnes
of sugar  urn:newsml:reuters.com:*:nL4N2G42JZ
    


($1 = 73.5400 Indian rupees)

 (Reporting by Vibhuti Sharma in Bengaluru)