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_ |;))
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