Sugar stocks jump after Govt notifies sugar export quota to EU

Shares of 11 sugar makers rose by 1.52% to 3.69% after the government on Tuesday (21 July) fixed an export quota of 10,000 tonne of sugar at concessional rate for the European Union under a specific provision.

Balrampur Chini Mills (up 4.69%), Dhampur Sugar (up 4.08%), Rana Sugars (up 4.03%), Dwarikesh Sugar (up 3.33%), Uttam Sugar Mills (up 2.59%), Sakthi Sugar (up 2.52%), Avadh Sugar & Energy (up 2.5%), Shree Renuka Sugar (up 2.06%), Bajaj Hindustan (up 1.98%), Triveni Engineering (up 1.92%) and EID Parry (up 1.52%) all advanced.

Director General of Foreign Trade (DGFT) said that the quantity of 10,000 tonne of sugar (raw and/or white sugar) to be exported to EU under CXL quota from 1 October 2020 to 30 September 2021 has been notified.

The release of sugar under this concession is subject to the presentation of a Certificate of Origin issued by the competent authority. The certificate of origin would be issued by the additional DGFT, Mumbai. Availing the CXL concessions on export to the EU, traders can export sugar at relatively low or zero customs duty.

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