Sugar stocks rise on hopes of additional 1 million tonnes exports

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Mumbai: Sugar companies were trading around 9 per cent higher on BSE in Thursday’s intra-day trade following the reports that the government may allow the sugar mills to export 1 million tonnes of sugar in the 2021-22 season.

Stocks of Balrampur Chini Mills, Avadh Sugar & Energy, Dalmia Bharat Sugar and Industries, Shree Renuka Sugars, Vishwaraj Sugar Industries, Triveni Engineering & Industries, Uttam Sugar and Dwarikesh Sugars were up between 3% and 9% on the BSE in intra-day trade.

As per the report published in Economic Times, India is likely to allow the export of additional 1 million to 1.2 million tonnes of sugar for the ongoing season ending September 30, 2022.

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