Indian sugar stocks rise; govt may incentivise export

Rajshree Sugars & Chemicals

19/09/2018 06:06

** Indian sugar stocks rise 5 pct-10 pct after Reuters
reports that govt is likely to consider a proposal to get mills
to export 5 mln tonnes of sugar by incentivising overseas sales
in the 2018/19 season  urn:newsml:reuters.com:*:nL3N1W456S
    ** Govt likely to raise minimum selling price for sugar to
32,000 rupees per tonne for the 2018/19 season from 29,000
rupees in the current season, sources said
    ** Govt is also planning to raise the price it pays directly
to cane growers to 138 rupees a tonne in the 2018/19 season
starting from Oct 1, from 55 rupees this season, sources added
    ** Sugar stocks rallied last week after India's cabinet
approved a hike in ethanol purchase price by up to 25 pct
 urn:newsml:reuters.com:*:nL3N1W03RH
    ** Balrampur Chini Mills Ltd  BACH.NS  climbs as much as 5.3
pct to 89.40 rupees, Dalmia Bharat Sugar and Industries Ltd
 DLMI.NS  rises 9.5 pct to 95.5 rupees, and Dhampur Sugar Mills
Ltd  DAMS.NS  gains 7 pct to 146.70 rupees 
    ** Uttam Sugar Mills Ltd  UTSM.NS  rises as much as 7.1 pct
to 128.70 rupees, while Rajshree Sugars & Chemicals Ltd
 RJSG.NS  adds 9.7 pct to 33.45 rupees

 ((Reuters Messaging: sharnya.g.thomsonreuters.com@reuters.net))