Sugar stocks get sweeter, surge up to 8% as India reverses ban on sugarcane juice to make ethanol
Sugar stocks surged up to 8 percent in early trade on December 18 since the food ministry has issued a fresh order reversing the ban on the use of sugarcane juice for making ethanol.
The ministry has also allowed the juice as well as B-heavy molasses to produce the green fuel in the 2023–24 supply year.
As of 9.17, Balrampur Chini Mills and Shree Renuka Sugars gained around 7.5 percent, while Dalmia Bharat Sugar was higher by 6.5 percent. Triveni Engineering and E I D-Parry (India) rose around 5 percent each.
Earlier, on December 5, in a directive issued to all sugar mills and distilleries, the ministry had said that the oil marketing companies (OMCs) will issue a revised allocation of sugarcane juice and B-heavy molasses-based ethanol for the 2023–24 supply year to each distillery…..
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