Sugar stocks rose sharply on Monday as domestic sugar prices climbed above Rs 50 per kg amid tight inventories and supply concerns. Festive demand, adverse weather in key producing regions and Brazil’s shift towards ethanol are adding to worries over availability. The government has also tightened stockholding limits to curb hoarding.
Sugar stocks rose sharply on Monday as domestic sugar prices climbed above Rs 50 per kg amid tight inventories and supply concerns. Festive demand, adverse weather in key producing regions and Brazil’s shift towards ethanol are adding to worries over availability. The government has also tightened stockholding limits to curb hoarding.
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Shares of sugar companies, including Balrampur Chini Mills, Dhampur Sugar, Dalmia Bharat Sugar, Shree Renuka Sugars and EID Parry, rallied up to 11% as sugar prices climbed sharply amid tight inventories and supply concerns. Prices have risen from around Rs 41-42 per kg in the quarter to above Rs 50 per kg.In today’s session, Balrampur Chini Mills gained over 3% to Rs 752 on the BSE, while Dhampur Sugar Mills gained 8% to Rs 200 per share. Uttam Sugar gained 11% to Rs 359 per share. Triveni Eng…
