Centre may increase ethanol, sugar prices

Sugar stocks, including EID Parry, Shree Renuka Sugars, Dhampur Sugar Mills, and Balrampur Chini Mills, among others, rose in morning trades on Friday, September 27. The stocks climbed between 1.7 per cent to 7.83 per cent at the last count on BSE.

The northward movement in the sugar stocks came after the Indian food minister Pralhad Joshi on Thursday said that the centre is considering the industry's demand of hiking the minimum selling price (MSP) of sugar from the current level of Rs 31 per kg, along with ethanol prices.

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“We are looking at the sugar production numbers for the 2024-25 season that will start in October before coming to any conclusion on exports. The industry has given us some numbers while we have our estimates based on all the inputs,” Joshi told reporters on the sidelines of the India Sugar and Bio-Energy Conference, organised by the Indian Sugar and Bio-Energy Manufacturers Association (ISMA).