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.
(To be updated)
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