Sugar Prices in India
Posted Date: 25-Jan-2010
Find out about fluctuations in sugar prices in India in retail market and measures by government.Also top sugar stock in India.
Sugar prices in India have always been fluctuating and now they have increased by Rs 10 per kg throughout India. But there was downward trend in whole sales prices in metros like Delhi, Mumbai after government announced steps to control after retail price of sugar in India increased to Rs 50 per kg!
Government measure to control sugar prices in India
Agriculture minister Sharad Pawar feels that there would be 10-15 days to control these fluctuations and rise in sugar prices in India by allowing processing of imported raw sugar. Also duty on import of sugar is zeroed till end of December to be expired in March. By this strategy prices declined by up to Rs 3.50 a kg to Rs 41/kg in Delhi, an less than a rupee in Mumbai to Rs 40/kg, according to trade data
Sugar prices in India affect profitability of mills
Sugar production is lowered as there is less recovery of sugar from sugar cane crop and this has increased cost of production of sugar. This has direct impact on profitability of mills. There is under recovery of sugar by almost 1% and so sugar industries would be loosing that much profitability.
Sugar prices in India and top sugar stock in India
Trend for Shree Renuka sugars stock has been increasing in share price since 2009 till date. CMP is Rs 233. and type of industry is large capital industry.
Even though the result this quarter has been below expectations, the company would be able to sell 1.6 mt sugar, 122.2 m litres alcohol and 401 m units of power in FY10
Price has increased from remarkable Rs 140 in Aug 2009 to Rs233 till date.
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