Sugar stocks jump amid reports of govt planning new sugar export policy

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Amid reports that the government is planning over framing new sugar export policy to reduce surplus and address the concerns of the beleaguered sugar industry, the sugar stocks achieved strength on June 27.

With the over 20 per cent jump, Rajshree Sugars was the biggest gainer, followed by Uttam Sugar, Sakthi Sugars, Dhampur Sugar, Kothari Sugars, Dalmia Sugar, Dwarikesh Sugar, Ugar Sugar, which gained between 3 to 7 per cent.

Sugar mills have been facing issues with depressing sugar prices, surplus stocks and piling cane arrears. However, to make the sugar mills bailout and strengthen the financial conditions of the sugar mills, the government is emphasizing on various aspects including export.

According to the media reports, the new sugar policy will likely be rolled out from the next season, beginning October.

Experts believe, to strengthen the financial condition of sugar factories and reduce the surplus sugar, there is a need to divert sugarcane to produce Ethanol and also to boost sugar export.

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