India produces the highest sugarcane after Brazil. The export target for this season is 6 million tonnes.
The government has announced the mandatory export target in January 2021.
This year, farmers of India are going to export sugar on a large scale. Traders have so far contracted 5 million tonnes of exports. This information has been given by Food Secretary Sudhanshu Pandey. The government has set a target of sugar export, which is 6 million tonnes for the October-September year (2020-21 season). In the sugar season of 2019-20, sugar mills exported 5.9 million tonnes. For information, tell that India produces the highest sugarcane after Brazil.
The government has announced the mandatory export target in January 2021. Actually the condition of sugar industry is bad. In such a situation, for their financial help, the government has allowed sugar mills to export directly so that they can earn money and sugarcane farmers will also be paid with the same money. Apart from this, the government has also focused on ethanol production. Food Joint Secretary Subodh Gupta said that liquidity is the biggest problem before the sugar industry. This problem will be solved in two ways. The first surplus sugar will be exported. Apart from this, the focus will be on ethanol production. He said that there is a problem of container and logistics in the beginning, but a lot of progress is being seen in this direction.
Sugar mills will have good days
Sugarcane is a commodity. The way the government is thinking about the sugar industry, it will definitely bring good days for the sugar mills companies in the coming days. You must have heard the name of Balrampur Chini Mills Ltd. It is the largest sugar manufacturer in India. This company manufactures and markets sugar. Apart from this, ethyl alcohol also produces and markets ethanol.
Its share at the level of Rs 335
Currently, its stock is at a level of Rs 335. 349 rupees is its 52-week and all-time high level while the 52-week minimum level is 84 rupees. The market cap of the company is around 7000 crores. In the last one month, its stock has given a spectacular return of 43 per cent, 110 per cent in three months, 250 per cent in a year and 95 per cent in 2021. In three years, this stock has given more than 400 per cent returns.
Sugar Industries Performance
Similarly, EID Parry has given 166 per cent in a year, Triveni Engineering has given 326 per cent, Shree Renuka 161 per cent and Bannariamman 150 per cent. Apart from this, companies like Dalmia Sugar, Dhampur Sugar, Bajaj Hindustha and Andra Sugar are big companies in the sugar sector. The government’s measures are expected to bring them a good day. There is a huge potential for you as an investor here.
(note- Seek the help of your consultant before investing in the stock market. Investing here is full of risks, so take care and make a decision.)
Read also, 4 such rich Indian businessmen who were once in the list of the rich, today people are hated by their names too.
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