Indian sugar stocks slide after report of likely export cap

E I D-Parry (India)

25/03/2022 06:43

** Shares of Indian sugar manufacturers fall between 1% and
4% after Reuters reported the government will likely cap sugar
exports 
    ** India may cap exports at around 8 million tonnes in an
effort to prevent domestic prices surging, the report said,
citing government and industry sources  urn:newsml:reuters.com:*:nL3N2VS14C
    ** Cashing in on rising global sugar prices, Indian mills
had contracted to export around 7 million tonnes of the
sweetener so far in 2021/22 marketing year ending on Sept. 30
 urn:newsml:reuters.com:*:nL3N2VD1JX
    ** 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  and
Dwarikesh Sugar Industries  DWAR.NS  fall between 1% and 4%
    ** Shree Renuka Sugars SRES.NS, Bajaj Hindustan Sugar
 BJHN.NS  and E I D-Parry (India) Ltd  EIDP.NS  fall between 2%
and 3%
    ** 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))