New Delhi:
Sugar stocks fell sharply on Wednesday, a day after the government imposed restrictions on sugar exports from June 1 to increase availability of the commodity on the domestic market and curb the price hike.
Shares of Dalmia Bharat Sugar and Industries plunged 13.40 percent, Dwarikesh Sugar plunged 9.38 percent, Uttam Sugar Mills plunged 9.30 percent and Balrampur Chini Mills plunged 8.56 percent on the BSE.
Furthermore, Avadh Sugar & Energy plunged 8.04 percent, Shree Renuka Sugars 6.69 percent and Mawana Sugars 4.97 percent.
“The export of sugar (raw, refined and white sugar) will be placed under a restricted category from June 1, 2022,” the Directorate-General for Foreign Trade (DGFT) said in a statement on Tuesday.
In a statement, the government said that in order to maintain domestic availability and price stability of sugar in the country during the 2021-22 sugar season (October-September), it has decided to regulate sugar exports from June 1.
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