Sugar stocks in focus after govt allows export for 1 year

India, which is set to produce sugar surplus for a third year in a row, has decided to allow exports under open general licence shceme (OGL) for one more year, Food Minster KV Thomas told reporters on Monday.

The decision will be effective when the government issues a formal order. India will soon take a decision on the recommendation made by an expert panel over lifting curbs on the sugar industry, Thomas added.

India is likely to produce 23.5 to 24 million tonnes of sugar in the 2012/13 crop year that started on October 1, against the local demand of about 22.5 million tonnes.

At 09:35 hrs Shree Renuka Sugars was quoting at Rs 36.80, up Rs 0.15, or 0.41%. It has touched an intraday high of Rs 37.05 and an intraday low of Rs 36.70. It was trading with volumes of 59,536 shares.

At 09:35 hrs Bajaj Hindusthan was quoting at Rs 32.65, up Rs 0.15, or 0.46%. It has touched an intraday high of Rs 32.85 and an intraday low of Rs 32.55. It was trading with volumes of 66,077 shares.

At 09:34 hrs Balrampur Chini Mills was quoting at Rs 73.60, up Rs 0.25, or 0.34%. It has touched a 52-week high of Rs 74.50. It was trading with volumes of 53,332 shares.

with inputs from Reuters

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