Sugar stocks gain on import duty hike buzz

India Infoline News Service | Mumbai | June 13, 2017 12:06 IST

Sugar prices in international markets started their downward trend following Brazilian production, which started in the month of April 2017.

The Indian Sugar Mills Association is demanding for an increase of import duty on sugar to avoid dumping of the commodity as the sugar prices have fallen considerably in the international market.
 
Market observers estimate surplus production from all sugar producing countries, including India. Sugar prices in international markets started their downward trend following Brazilian production, which started in the month of April 2017. Sugar companies have been shedding tears as the government has increased Fair and Remunerative prices for sugar, which may increase the input cost for these companies.
 
Meanwhile, sugar stocks like Dwarikesh Sugar, Bajaj Hindusthan Sugar, Dalmia Bharat Sugar, Mawana Sugars are trading in a positive territory higher by up to 5%. Sakthi Sugar was the top gainer in sugar sector. It was trading higher by 6.48% at Rs 30.40 per share.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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