Sugar stocks rallied up to 10% in early trade on Monday after the government approved the export of 1.5 million tonnes of sugar for the 2025-26 season and removed the export duty on molasses.
SBEC Sugar share price hit 10% upper circuit, while Dhampur Sugar Mills, Balrampur Chini Mills, Bajaj Hindusthan Sugar, Dalmia Bharat Sugar and Industries, EID Parry India, Rajshree Sugars & Chemicals, Dwarikesh Sugar Industries and other sugar stocks gained between 3% and 6%.
The Union Food Ministry has allowed the export of 1.5 million tonnes (MT) of sugar for the 2025-26 sugar season, which commenced in October. The ministry has also scrapped the 50% export duty on molasses to boost outbound shipments.
India exported about 8,00,000 tonnes of sugar against an allocation of 1 MT during the 2024-25 sugar season that ended in September.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
