Sugar stocks gain as Govt scraps export duty

Sugar stocks advanced at 10:38 IST on BSE after the government yesterday, 20 March 2018, scrapped the 20% export duty on sugar in a bid to lift its domestic price.

Meanwhile, the S&P BSE Sensex was up 325.32 points or 0.99% at 33,322.08.

KCP Sugar & Industries (up 4.31%), Dwarikesh Sugar Industries (up 1.44%), EID-Parry (India) (up 1.55%), Dhampur Sugar Mills (up 2.45%), Sakthi Sugars (up 2.52%), Rana Sugars (up 2.24%), Balrampur Chini Mills (up 1.45%) and Bajaj Hindusthan Sugar (up 0.79%) gained. Shree Renuka Sugars was flat at Rs 15.50.

Last month, the government doubled import duty on sugar to 100% to keep a check on falling prices. Sugar marketing year runs from October to September.

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