Sugar stocks of major sugar mills company stocks rallied after ISMA reported an upsurge of 17 lakh tonnes in exports.
Likewise, Balrampur Chini Mills Ltd shares were up by 2.36 per cent at Rs 453.50 apiece (+10.45), Dalmia Bharat Sugar and industries ltd jumped to 0.51 per cent at Rs 482.75 apiece (+2.45), and simultaneously Triveni engineering and industries Ltd stocks stood at 1.02 per cent at Rs 262.15 (+2.65) apiece today in Tuesday trade at 1.52 pm IST on National Stock Exchange.
During October-December, India’s sugar exports advanced 4 times to 17 lakh tonnes. This jump has been documented due to the increase in demand from abroad.
Sugar industry organization ISMA stated that during the period October-December, the country’s sugar exports nearly quadrupled to 17 lakh tonnes. Until now, 38-40 lakh tonnes have been acquired for export by sugar mills. Mills are currently waiting for a modification in global prices for further agreements. The marketing year for sugar runs from October to September. ISMA said in a statement, “As per the market reports and port information, about 17 lakh tonnes of sugar has been exported during the period October to December 2021.” Tons of sugar was exported.
The Sugar Mills Association of India (ISMA) said that the country has produced 151.41 lakh tonnes of sugar between October 1, 2021, and January 15, 2022, in the existing marketing year 2021-22, as against 142.78 in the same period of the previous marketing year. Millions of tons of sugar were produced.