Sugar stocks rally after government ups import duty to 25%

   

 In a bid to provide relief to the sugar industry, the government on Friday decided to increase import duty on the sweetener from 15 percent to 25 percent. The industry which owes Rs 15,000 crore to sugarcane growers, has been demanding an increase of 40 percent. At a high level meet in June headed by Union food minister Ram Vilas Paswan, it was decided to raise sugar import duty to 40 percent from the existing 15 percent and provide export subsidy of Rs 3,300 per tonne till September this year.
     All suger stocks rally upto 4-6%,Andhra sugar up 3.14%, renuka sugar up 3.95%, balrampur chini up 2.72%,Dharani sugar up 4.30%, bajaj hindustan up 4.21%