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Sugar producers surge after government removes curbs

Reuters
Apr 05, 2013 at 12:08pm IST

Mumbai: Shares of sugar producers, including Shree Renuka Sugars Ltd, surged on Friday after the government took steps to remove curbs on domestic sugar supplies.

India will no longer force mills to sell sugar to the government at a discount and will not limit the amount they can sell in the open market, Food Minister KV Thomas said on Thursday.

Shree Renuka shares jumped 6.8 per cent as of 9:25 am. Bajaj Hindusthan Ltd was up 7.8 per cent, while Balrampur Chini Mills Ltd was up 7.2 per cent.

Sugar producers surge as government removes curbs

India will no longer force mills to sell sugar to the government at a discount and will not limit the amount they can sell in the open market.

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