Shares of major sugar companies surged on Monday, November 10, following the news of government’s approval of sugar exports and the removal of duties on a by-product. Stocks of SBEC Sugar Limited, Dhampur Sugar, Dwarikesh Sugar Industries, and several other sugar producers rose by up to more than 9% during the day, driven by positive policy changes ahead of the upcoming sugar season.
SBEC Sugar shares gained 9.97%, reaching Rs. 35.73 on the BSE, while other sugar producers also saw gains.
Dhampur Sugar Mills surged 6.4% to Rs 140.85. Shree Renuka Sugars shares zoomed 6.6%, reaching Rs 29.69.
Meanwhile, the shares of Mawana Sugars and Dwarikesh Sugar also saw gains in the range of 1% to 4%.
The Centre has decided to permit the export of 15 lakh tonnes (MT) of sugar for the 2025-26 season, which began in October, according to Food Minister Pralhad Joshi.
In addition, the Union Food Ministry has decided to remove the 50% export duty on molasses, Joshi stated in a letter dated November 7 to Karnataka Chief Minister Siddaramaiah. The export decision was part of a broader set of measures outlined by the central government aimed at supporting the interests of sugarcane farmers in India.
“For the current sugar season also, the central government has decided to allow export of 15 lakh tonne of sugar and 50 per cent export duty on molasses has been removed,” Joshi said.
This is lower than the 20 lakh tonnes that the sugar industry had requested. In the 2024-25 season, India exported approximately 800,000 tonnes of sugar, compared to the 10 lakh tonnes that had been initially allocated.
India’s sugar production for the 2025-26 sugar season is projected to rise sharply to 343.5 lakh tons, up around 16 per cent from 296.1 lakh tons in 2024-25, according to the first advance estimates released by the Indian Sugar and Bio-Energy Manufacturers Association (ISMA).
