Sugar Sector

Sugar stocks fell sharply on Wednesday, a day after the government imposed restrictions on sugar exports from June 1 to increase availability of the commodity in domestic market and curb price rise. Shares of Dalmia Bharat Sugar and Industries plummeted 13.40 per cent, Dwarikesh Sugar tumbled 9.38 per cent, Uttam Sugar Mills plunged 9.30 per cent and Balrampur Chini Mills tanked 8.56 per cent on the BSE. Also, Avadh Sugar & Energy dived 8.04 per cent, Shree Renuka Sugars declined 6.69 per cent and Mawana Sugars dipped 4.97 per cent. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification on Tuesday. In a statement, the government said with a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), it has been decided to regulate the sugar exports with effect from June 1.

India has exported 75 lakh tonnes of sugar till May 18 in the current marketing year ending September, the Food Ministry said on Thursday. Sugar marketing year runs from October to September. "Export of sugar in current sugar season 2021-22 is 15 times of export as compared to export in sugar season 2017-18," the ministry said in a statement. The major importing countries are Indonesia, Afghanistan, Sri Lanka, Bangladesh, UAE, Malaysia and African countries. In 2017-18, 2018-19, 2019-20 marketing years, about 6.2 lakh tonnes, 38 lakh tonnes and 59.60 lakh tonnes of sugar were exported, respectively. In 2020-21, about 70 lakh tonnes of sugar have been exported. "About Rs 14,456 crore (have been) released to sugar mills in past 5 years to facilitate export of sugar and Rs 2,000 crore as carrying cost for maintaining buffer stock," the statement said. Millers have contracted for export of about 90 lakh tonnes of sugar in 2021-22. Out of which, 75 lakh tonnes have been exported till

Magadh Sugar & Energy, Rana Sugar, Uttam Sugar Mills, KM Sugar, Andhra Sugar, Mawana Sugar and Shree Renuka Sugar surged 10 per cent to 15 per cent on the BSE.

Sugar exports have jumped over 2.5 fold between October 2021 and February this year to 47 lakh tonnes on higher production and better demand of the Indian sweetener in the global market

The country has physically exported 4.2 MT of sugar till February of the current marketing year, against the export contracts already undertaken for shipment of six million tonne: ISMA

Bajaj Finance, ICICI Prudential Life, Just Dial, Jyoti Structures, LT Technology Services and Tata Elxsi are scheduled to announce December quarter results today.

The sugar industry is going through a transformation from being a cyclical industry to structural growth sector by increasing distillery capacities over the next three years, analysts say.

Karnataka government on Monday decided to withhold its decision to lease the Mandya-based The Mysore Sugars Company Ltd (MySugar) temporarily

India's sugar export rose 20 per cent to an all-time high of 7.1 million tonne in the 2020-21 in the marketing year ended ended September 2021 on the back of better demand and financial assistance fro

Fitch Solutions said on that India's ethanol consumption will increase over the next few years, driven primarily by the government's desire to support the sugar sector by boosting ethanol production

The record drop in stocks has largely been due to bumper exports of seven million tones and diversion of 2.1 million tones of sugar towards ethanol

On a breakout, sugar stocks may see up to 24 per cent upside

Traders said the likely decline has already lifted sugar prices near their highest levels in 3-years

Sugar companies are seeing a huge, untapped demand for ethanol for the blending program of the, which can be of benefit to the sector in the future

On World Environment Day (June 5), Prime Minister Narendra Modi announced that the target of 20 per cent ethanol-blended petrol has been advanced by five years to 2025

Sugar mills have exported 2.49 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September

The solution to the sugar Industry problem lies in any or a combo of a price stabilisation fund, the Gujarat model of payment of cane dues and increased focus on ethanol blending

Ethanol is expected to be a key driver for the sugar industry, going ahead

Farm leaders object to Gujarat-like model, say can't take pay in tranches

Increase in minimum price of cane and export policy in new sugar season are also crucial to drive earnings