Indian sugar stocks fall on likely export cap next season

E I D-Parry (India)

17/06/2022 10:11

** Shares of Indian sugar manufacturers fall between 1% and
6% after Reuters reported, citing sources, that the govt will
likely impose a ceiling on next season's sugar exports
    ** India is likely to impose a ceiling on sugar exports for
a second straight year starting this October, aiming to ensure
ample domestic supplies and keep a lid on local prices
 urn:newsml:reuters.com:*:nL4N2Y4104
    ** India is the world's biggest sugar producer after Brazil
    ** Monsoon rains in sugarcane growing areas of the western
India state of Maharashtra, the biggest producer in the country,
were 60% below average since the start of the rainy season on
June 1, according to weather office data 
    ** India on May 24 imposed restrictions on sugar exports for
the first time in six years with a cap for this season of 10
million tonnes  urn:newsml:reuters.com:*:nL2N2XH06I
    ** 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  and
Dwarikesh Sugar Industries  DWAR.NS  fall between 1% and 5%
    ** Shree Renuka Sugars  SRES.NS , Bajaj Hindustan Sugar
 BJHN.NS  and E I D-Parry (India) Ltd  EIDP.NS  fall between 2%
and 6%

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