Increased sugar prices and expanding ethanol volumes, according to the brokerage s analysis, will result in considerable increases in sugar producers profitability, , sugar stocks, investment, trading, stockmarket
The Fast developing El Nino conditions are likely to result in a decline in net sugar production by 4 mt 12%, specifically in Maharashtra and Karnataka, the note said adding that this would keep domestic sugar prices firm for the next one year.
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JM Financial said it sees significant optimism returning to the sugar sector, thanks to seasonal factors such as festival period and growing concerns on India’s sugar production estimate for the upcoming season (SS24E).