Sugar stocks down 5-8%; farmers demand higher cane price

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Sugar stocks down 5-8%; farmers demand higher cane price

Sugar stocks were seeing huge selling pressure on news of sugar companies yet to begin crushing for the season. There were reports that sugar mill owners have agreed to pay Rs 180 per quintal for sugarcane.

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ALSO READ See latest News about Bajaj Hind See what other Experts & Brokerages are saying about Bajaj Hind See messages about Bajaj Hind Bajaj Hind BSE | NSE 31/05/12 Are Mutual Funds betting on Bajaj Hind? Other Stocks in this news Balrampur Chini Mills | Dhampur Sugar Mills | Dharani Sugars and Chemicals | Dwarikesh Sugar Industries | Shree Renuka Sugars | Triveni Engineering and Industries |

Sugar stocks were seeing huge selling pressure on news of sugar companies yet to begin crushing for the season. There were reports that sugar mill owners have agreed to pay Rs 180 per quintal for sugarcane. The farmers were demanding Rs 200 plus for the same. The crushing could not start as farmers have stopped supplies in anticipation of higher price.

Bajaj Hindusthan , Balrampur Chini , Dhampur Sugar , Dharani Sugars , Dwarikesh Sugar , Shree Renuka and Triveni Engg fell 5-8%.

Andhra Sugar, EID Parry, KCP Sugar, Oudh Sugar Mill, Ponni Sugars (E), Simbhaoli Sugar, Upper Ganges Sugar and Uttam Sugar were down 2-4%.