Indian sugar cos down on govt plan to raise sugar cane floor price

E I D-Parry (India)

22/02/2024 05:23

** Shares of sugar cos Dwarikesh Sugar  DWAR.NS , Balrampur
Chini Mills  BACH.NS , EID Parry  EIDP.NS , Shree Renuka Sugars
 SRES.NS  and Bajaj Hindusthan Sugar  BJHN.NS  down between
1%-3% 
    ** India says it will raise floor price that mills must pay
for sugar cane in the 2024/25 season by 8% from Oct. 1     
    ** Govt fixes buying price of sugar cane at 340 rupees
($4.10) per 100 kg for next season, up from this year's 315
rupees
    ** As of YTD, DWAR down 7.4%, BACH fallen nearly 8%, while
SRES, EIDP and BJHN up between 3%-34%         

($1 = 82.9140 Indian rupees)

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