India's sugar stocks rise on report of output fall in country's largest producer

E I D-Parry (India)

13/09/2023 09:49

** Shares of Indian sugar manufacturers such as Shree Renuka
Sugars Ltd  SRES.NS , Balrampur Chini Mills Ltd  BACH.NS ,
Dalmia Bharat Sugar and Industries Ltd  DLMI.NS , Dhampur Sugar
Mills Ltd  DAMS.NS , and E I D-Parry (India) Ltd  EIDP.NS  rise
between 2% to 4%
    ** Reuters on Wednesday reported that output in India's top
sugar producing state Maharashtra will fall to its lowest in
four years in FY23/24 
    ** Lower output likely to lead to export ban and increased
domestic prices
    ** Higher prices will improve margins of sugar makers and
help them make payments to farmers on time
    ** Indian govt to likely ban sugar exports in the season
beginning October, Reuters reported last month 


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))