Sugar stocks News

The government has said that this mandatory weekly stock disclosure for these entities is another proactive step in Government of India's efforts to maintain a balanced and fair sugar market. 

India produced a record 32 million tonnes of sugar in the current 2017-18 marketing year.

Prime Minister Narendra Modi on Saturday favoured raising sugar exports to liquidate surplus stocks because of low domestic demand that has led to a huge cane arrears of over Rs 14,000 crore to farmers.

Indian sugar mills have contracted to export 50,000 tonnes of white sugar to Sri Lanka, Myanmar, Afghanistan and Turkmenistan at USD 340-USD 345 a tonne, free on board, trade sources said, the first major deal in the past few months.

Sugar stocks were in limelight Wednesday, surging up to 13 percent, after the government approved Rs 6,000 crore interest-free loan to sugar mills to help them partly clear cane price arrears to farmers.

Sugar stocks on Friday gained up to 3.2 percent after the government approved subsidy on export of up to 1.4 million tonnes of raw sugar in the ongoing 2014-15 marketing year.

Sugar stocks Thursday surged up to 9 percent after the government ratified the methodology used for fixing the export subsidy on raw sugar during April-September period of the 2013-14 marketing year.

Sugar prices on Tuesday further rose by up to Rs 2 per kg to Rs 33.40 at the wholesale market in the national capital.

Govt will hike import duty on sugar to 40 percent from the current 15 percent, Food and Civil Supplies Minister Ram Vilas Paswan said on Monday.