Sugar Shares Surge As Centre Re-schedules Target Date For Ethanol Blending

Sugar shares surged greater than 3 per cent on the BSE after the federal government superior the ethanol mixing programme by two years to 2023 in an try to scale back India’s dependence on oil imports. At 12:55 pm, Balrampur Chini Mills, Triveni Engineering & Industries, EID Parry (India), Dhampur Sugar Mills and Dwarikesh Sugar Industries rose round 3 per cent every on the BSE.

Last 12 months, the federal government had set a goal of reaching 10 per cent ethanol-blending in petrol by 2022 and 20 per cent doping by 2030. Earlier this 12 months, the goal for 20 per cent mixing was introduced ahead to the 12 months 2025 and this has now been superior to April 2023. 

Sugar shares have additionally been bullish within the latest previous as a consequence of improve in Indian sugar exports as Brazil, which is the biggest producer and exporter of sugar, is going through the worst sugar manufacturing in 91 years. 

The BSE Sensex and NSE Nifty had been buying and selling greater by 0.3 per cent every on the time.