Indian sugar cos fall as govt official hints at export subsidy withdrawal

DWARIKESH SUGAR INDUSTRIES

18/08/2021 05:53

** Shares of Indian sugar cos fall after Reuters reports
that India might withdraw sugar export subsidies from the new
crop season beginning October 
    ** A sharp rise in global prices makes it easier for Indian
mills to sell the sweetener on the world market, a top
government official told Reuters on Tuesday  urn:newsml:reuters.com:*:nL1N2PP01H
    ** Shares of Dalmia Bharat Sugar and Industries Ltd
 DLMI.NS , Dwarikesh Sugar Industries Ltd  DWAR.NS , Balrampur
Chini Mills  BACH.NS  and Shree Renuka Sugars Ltd  SRES.NS  were
down between 3% and 5%.
    ** India, the world's biggest sugar producer after Brazil,
encouraged overseas sales for three years in a row, helping New
Delhi emerge as a significant, stable exporter of the commodity
    ** Shares of SRES, BACH, DWAR and DLMI have risen between
109% and 205% this year as of last close 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))