Indian sugar companies rally on surge in exports

E I D-Parry (India)

11/03/2022 09:26

** Shares of Indian sugar manufacturers climb between 4% and
8% on jump in exports as global prices rally
    ** Indian sugar mills signed contracts to export 550,000
tonnes of the sweetener in recent days, as surging global prices
and a weak rupee made overseas sales lucrative, four dealers
told Reuters  urn:newsml:reuters.com:*:nL3N2VD1JX
    ** Indian mills have so far signed contracts to export 6.4
million tonnes of sugar in 2021/22, dealers estimate. Out of
this, nearly 5 million tonnes have already been shipped
    ** India is the world's biggest sugar producer after Brazil
    ** Shares of Balrampur Chini  BACH.NS , Dalmia Bharat Sugar
and Industries  DLMI.NS , Triveni Industries  TREI.NS , Bannari
Amman Sugars  BANN.NS , Dhampur Sugar Mills  DAMS.NS  gain
between 5% and 8%
    ** Shree Renuka Sugars  SRES.NS , Bajaj Hindustan Sugar
 BJHN.NS  and E I D-Parry (India) Ltd  EIDP.NS  rise between 4%
and 5%
    ** India is likely to produce a record 33.3 million tonnes
of sugar in 2021/22, nearly 7% more than a year ago
    

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))