Big Update for Sugar Stocks

A fresh order lifts sugar stocks up to 8% as the ban on sugarcane juice for ethanol production is reversed.  Read Kore>>

Source: Moneycontrol

Ministry's Reversal

The food ministry allows sugarcane juice and B-heavy molasses for ethanol production in 2023–24.

Source: Moneycontrol

Stocks in Action

Balrampur Chini Mills and Shree Renuka Sugars surged 7.5%, while Dalmia Bharat Sugar rose 6.5%.

Source: Moneycontrol

Market Impact

Sugar stocks witnessed significant gains after the reversal, recovering from recent declines.

Source: Moneycontrol

Government Directive

The ministry instructs sugar mills and distilleries on revised ethanol allocation for the 2023–24 supply year.

Source: Moneycontrol

Impact on Production

The government's move follows an erratic monsoon, affecting sugarcane crops and prompting export restrictions.

Source: Moneycontrol

ISMA's Outlook

The Indian Sugar Mills Association predicts an 8% fall in sugar production due to lower rainfall.

Source: Moneycontrol