India's sugar stocks surge as global sugar price hits 12-year high

E I D-Parry (India)

25/10/2023 06:06

** Shares of sugar companies like Dwarikesh Sugar  DWAR.NS ,
EID Parry  EIDP.NS , Shree Renuka Sugars  SRES.NS  Balrampur
Chini Mills  BACH.NS , Triveni Engineering  TREI.NS , Dhampur
Sugar  DAMS.NS  up between 2% and 6%
    ** Rise after global sugar prices hit a 12-year high on
Tuesday, on supply tightening
    ** International Sugar Organisation (ISO) said on Tuesday
that 2023-2024 global sugar production will fall 1.2% Y/Y
    ** Lower sugar production likely to sustain upward
trajectory in domestic sugar prices, said analysts at Systematix
Institutional Equities
    ** Rise in sugar prices also due to extension of export
curbs by world's second biggest producer India last week 
    ** SRES and BACH among top gainers in small-cap index
 .NIFSMCP100 , which is up 1.13%

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))