Indian sugar stocks fall on possible curbs on cane use for ethanol
BUZZ-Indian sugar stocks fall on possible curbs on cane use for ethanol ** Shares of Indian sugar producers fall after Reuters reported government considering restricting use of sugarcane for ethanol production in the season beginning October
** Uttam Sugar Mills UTSM.NS falls nearly 4%
** Balrampur Chini BACH.NS, Bannari Amman Sugars BANN.NS, Dwarikesh Sugar DWAR.NS, Magadh Sugar MGAD.NS, Ugar Sugar Works UGSW.NS, Shree Renuka Sugars SRES.NS and Avadh Sugar AVAD.NS decline between 0.1% and 1%
** Proposed restrictions would cover ethanol made from sugarcane juice and B-heavy molasses, government and industry sources told Reuters
** A government spokesperson did not immediately respond to Reuters request for comment
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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