Stocks

Sugar stocks climb on export deal with China

Reuters | Updated on November 09, 2018 Published on November 09, 2018

balrampur

Shares of Indian sugar producers Dhampur Sugar Mills Ltd , Balrampur Chini Mills Ltd, Ugar Sugar Works Ltd, E.I.D-Parry (India) Ltd post gains in range of 3-5 per cent today.

Trade ministry said on Thursday that the country plans to export 2 million tonnes of raw sugar to China from next year

Producers' body Indian Sugar Mills Association and China's state trader COFCO have already signed an initial deal for 15,000 tonnes of sugar, the ministry said

Ugar Sugar posts biggest intraday gain in more than a month, and now trades at volumes nearly 1.9 times its 30-day average.

Ugar Sugar was up 5 per cent, Dhampur Sugar rises 4.2 per cent, Balrampur Chini gained 3.3 per cent, and E.I.D-Parry too was up 4.80 per cent.

Published on November 09, 2018
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