Avlean, a Swiss business, predicted that a disastrous crop in India, a major producer of sugar, would impair supply, resulting in a sixth consecutive year of sugar deficit.
According to a Reuters article from August, India may outlaw sugar exports, halting shipments for the first time in seven years, as the country’s sugar production has decreased due to a lack of rain.
After the largest sugar dealer in the world stated that it anticipates a year of shortages, sugar stocks soared on September 5, with some marquee scrips gaining as much as 10%.
Avlean, a Swiss company, stated that it anticipates a sixth consecutive year of sugar deficit as supply would be impacted by a poor harvest in India, a significant sugar producer, according to Bloomberg.
5.4 million metric tons of the sweetener will be short on the world market in the upcoming season, according to Mauro Virgino, trading intelligence head at Alvean, who spoke to Bloomberg.
On the National Stock Exchange, Dalmia Sugar’s share price was up 6.5 percent at Rs 431.7 at 10:17 a.m. At Rs 512.25, EID Parry was up 5.94 percent. In today’s trading session, Uttam Sugar Mills increased by 9.32%, Balrampur Chini increased by 2.23%, and Bajaj Hindustan Sugar increased by 3%.
On the National Stock Exchange, Dalmia Sugar’s share price was up 6.5 percent at Rs 431.7 at 10:17 a.m. At Rs 512.25, EID Parry was up 5.94 percent. In today’s trading session, Uttam Sugar Mills increased by 9.32%, Balrampur Chini increased by 2.23%, and Bajaj Hindustan Sugar increased by 3%.
According to a Reuters article from August, India may outlaw sugar exports, halting shipments for the first time in seven years, as the country’s sugar production has decreased due to a lack of rain.
This year’s monsoon rainfall have been up to 50% below average in the key sugarcane growing areas of Maharashtra and Karnataka, which together produce more than half of all the sugar produced in India.
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