Shares of sugar companies today fell as sugar production in Maharashtra is set to increase by 30 per cent and this will keep the prices subdued, according to Philip Capital.
Sugar mills are struggling to export raw sugar despite government subsidy due to a sharp drop in international prices due to depreciation in Brazil’s currency.
Shree Renuka Sugars fell 4.1 per cent, Bajaj Hindusthan Sugar was down 2.2 per cent, Dhampur Sugar Mills slumped 5.8 per cent and Balrampur Chini Mills was down 2.3 per cent.