India sugar firms climb on hopes of price rise with output shortfall

Mawana Sugars

06/12/2022 05:41

** Shares of Indian sugar companies rise as much as 15.5%
amid hopes of price increases, led by a likely 7% fall in output
this year 
    ** Erratic weather conditions cut cane yields and could
dampen exports from the India, farmers, millers and traders told
 Reuters on Monday  urn:newsml:reuters.com:*:nL1N32W06U
    ** Shares of Dhampur Sugar Mills  DAMS.NS , Uttam Sugar
Mills  UTSM.NS , Shree Renuka Sugars  SRES.NS , Ponni Sugars
(Erode)  PONS.NS , Mawana Sugars  MAWS.NS , Dwarikesh Sugar
Industries  DWAR.NS , Ugar Sugar Works  UGSW.NS , Dalmia Bharath
Sugar and Industries  DLMI.NS , Rana Sugars  RNSG.NS  up between
2.1%-15.5% 
    ** Lower sugar exports from India, the world's second
biggest exporter, could lift global prices 
    ** UGSW rises as much as 9.9% to a record high of 99.10
rupees, while PONS hits near-decade high of 384.30 rupees
    ** Sugar stocks rise in a weak domestic market, with the
benchmark Nifty 50  .NSEI  down 0.5%
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))