Sugar Stocks Crash Up To 5% As India Allows Duty-Free Imports Of 1 Million Tonnes Of Raw Sugar

Описание: Sugar stocks came under sharp selling pressure on August 21 after the government allowed duty-free imports of 1 million metric tonnes of raw sugar until October 31. The move, aimed at boosting domestic supplies and cooling record-high prices ahead of the festival season, triggered losses of up to 5% across the sector.
Dalmia Bharat Sugar, Dwarikesh Sugar Industries, Balrampur Chini Mills and Triveni Engineering & Industries were among the biggest losers. The government normally imposes a 100% duty on sugar imports, making the decision a significant policy intervention and India's first major sugar import move in nearly a decade.
The import window could increase domestic availability and put pressure on sugar realisations, potentially limiting the earnings upside for producers. The move comes after sugar prices surged nearly 40% over the past two months amid tighter supplies and lower production.
Global sugar prices, however, moved higher following India's announcement as traders factored in increased demand from one of the world's largest sugar consumers.

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