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From Balrampur Chini To Dhampur, Why The Sugar Rally May Not Be Done Yet
India doubled incentives on sugar diverted for ethanol. That's just one of the factors driving millers' shares.
13 Oct 2021, 08:05 AM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![<div class="paragraphs"><p>A file photo of a worker arranges sugar cubes at the Simbhaoli Sugars Ltd. mill in Ghaziabad, Uttar Pradesh. (Photographer: Prashanth Vishwanathan/Bloomberg)</p></div>](https://media.assettype.com/bloombergquint%2F2021-10%2F16921747-690f-4fd9-8a46-0f113172a870%2F229299260.jpg?auto=format%2Ccompress&w=200)
A file photo of a worker arranges sugar cubes at the Simbhaoli Sugars Ltd. mill in Ghaziabad, Uttar Pradesh. (Photographer: Prashanth Vishwanathan/Bloomberg)
In a second straight year of sugar glut, shares of Indian millers have surged. That’s because of the nation’s aggressive push to ethanol blending in transport fuels. In the latest move, the government has doubled incentives on sugar sacrificed for producing ethanol from October.India targets to achieve 20% ethanol blending with petrol by fiscal 2024-25. The nation also exported record sugar in the last season. Increased incentives fo...
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