Dwarikesh Sugar, Ugar Sugar Works, Oudh Sugar Mills and Upper Ganges are down more than 5% each
Sugar prices in the retail market have been quoting between Rs 42 and Rs 45 per kilo in the national capital
Upper Ganges, Mawana Sugars, Oudh Sugar and Ugar Sugar have zoom more than 200% thus far in 2016.
The country had exported 1.1 MT of sugar in the 2014-15 marketing year (October-September)
Despite recent rally, experts advise buying shares of firms with a longer term perspective
Many nutrition experts say that sugar in moderation is fine for most people but in excess it can lead to metabolic problems beyond its effects on weight gain
Overall, the country's cane sowing in 2016-17 is expected to be 4.41 mn ha, up 7.6% from the current year
Include Balrampur Chini, Dhampur Sugar and Dwarikesh Sugar, total 15 sugar stocks trading at their 52-week highs.
A move that could further push up global prices of the sweetener
Less domestic output , with a widening global deficit, resulting in more realisation and profits, among favourable factors
Dhampur Sugar, DCM Shriram Ind, Dharani Sugars, Thiru Arooran, Mawana Sugars, Dwarikesh Sugar and Upper Ganges were quoting at their respective 52-week highs.
Rating agency says a forward contract price of Rs 4,000 will prompt govt to cut import duty on raw sugar and ease imports
Maharashtra imposes stock-holding limits on sugar to check prices from rising
India, the world's biggest sugar consumer, is likely to become a net importer of the sweetener in 2016/17 due to drought
Dalmia Bharat Sugar, Thiru Arooran, Balrampur Chini, Uttam Sugar and Oudh Sugar were down over 5% on the BSE
Retail sugar prices in past 2 months have crossed Rs 40 per kg due to 11% fall in domestic sugar output in ongoing 2015-16 season
The central government is to withdraw the production-linked subsidy of Rs 4.50 a quintal that it transfers directly into the bank account of sugarcane farmers on the condition that the mills to which they sell have exported 80 per cent of their prescribed quota of sugar. The mills also have to produce a certain level of ethanol. Ex-factory sugar prices have improved significantly in the past year, from Rs 23-24 a kg to a little over Rs 32 a kg. The move, some officials said, also means that mills would be discouraged from exporting, helping maintaining domestic supplies.Till date, as against a quota of 3.2 million tonnes, mills have managed to export around 1.5 mt. Earlier, the government of Maharashtra too had withdrawn an excise duty concession to encourage mills to export sugar from their allocated quota; however, it seems to not have yielded the desired results.Sugar prices in retail markets have risen by at least 50 per cent in the past few months, despite ample supplies, ...
Many cut losses as price stabilises at higher levels
The overall production in the country till end- April in the 2015-16 crop year was at 24.6 million tonnes, down 11% from a year earlier
Marketmen said increased demand from stockists as well as bulk consumers, driven by ongoing summer season, mainly kept sugar prices higher