Sugar stocks turned even dearer on Wednesday after they rallied up to 11.5% in trade as retail and wholesale raw sugar prices neared all-time highs.
The commodity now commands premium over ethanol in India and Brazil, which translates into gains for sugar stocks, as per NDTV Profit research.
Shares of Shree Renuka Sugars Ltd. led the rally as they zoomed 11.5% to Rs 26, followed by Dalmia Bharat Ltd.'s surge of up to 5.5% to Rs 477.70.
Triveni Engineering & Industries Ltd. jumped over 3% to Rs 285.5, while EID Parry (India) Ltd. and Balrampur Chini Mills Ltd. were up over 2% to Rs 800 and Rs 667, respectively.
As of 11:25 a.m., Shree Renuka traded 6.4% higher, Dalmia Bharat was up 3%, Balrampur Chini traded 2% higher and EID Parry traded 1.3% higher.
The rally comes as domestic wholesale sugar prices cross Rs 6,000 per quintal (1,000 Kgs) in certain Indian cities like Kolkata and Kanpur driven by lower monthly release quotas and declining mill inventories.
Across big metros, retail prices hover over Rs 62-63 per Kg as of Aug. 18, 2026. Globally, white sugar prices have hit a 15-month high as supplies tighten all over the world.
Europe's output expected to fall to lowest in a decade, El Nino will impact India and Thailand production, while smaller production is expected out of Brazil.
India's inventories sit on the lower side, according to analysts, and to make things worse the crushing season might get delayed.
At present the Centre is mulling to curb import duties to relieve soaring raw sugar prices. The development is significant as India is the second largest producer of the commodity.
Government is considering to lower or scrap the 100% tax on sugar shipments, as the upcoming festive season may spike even more demand news agency Bloomberg reported.
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