Indian sugar cos rise on extension of export period for mills

E I D-Parry (India)

08/07/2022 08:08

** Shares of Indian sugar firms rise 3%-15% after report
that the government extended an export period for mills 
    ** India extended a deadline for the export of 800,000
tonnes of sugar by two weeks as annual monsoon rains make it
tough for many producers to move stocks from factories to ports,
the government said on Friday.  urn:newsml:reuters.com:*:nL4N2YP13Y
    ** Balrampur Chini  BACH.NS , Dalmia Bharat Sugar and
Industries  DLMI.NS , Triveni Industries  TREI.NS , Dhampur
Sugar Mills  DAMS.NS , Dwarikesh Sugar Industries  DWAR.NS  and
Uttam Sugar Mills  UTSM.NS  jumped as much as 3%-15.5%  
    ** Bajaj Hindustan Sugar  BJHN.NS , E I D-Parry (India) Ltd
 EIDP.NS  and Shree Renuka Sugars  SRES.NS  advanced between 3%
and 4% 
    ** India last month gave its mills until July 5 to export
sugar, but some mills missed doing so because of heavy rains.
The mills are now allowed to export the sugar by July 20.
    ** India is set to surpass Brazil to become the world's
biggest sugar producer in the marketing year to Sept. 30, ISMA
estimates, with output of 36 million tonnes. 

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