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Hike in the sugarcane FRP, Sugar mill stocks fall

The government on Wednesday announced Rs.20 hike in the sugarcane Fair & Remunerative Price (FRP) to Rs. 275 per quintal required to be paid by sugar mills to cane growers for the 2018-19 crop year.

The govt of late also announced an increase in the MSP or minimum support price of kharif crops including paddy. The current Fair and Remunerative Price stands at Rs.255 per quintal for the 2017-18 crop season.

This move has an impact on sugar mills Stocks on Thursday’s trade. Looking at the sugar mills stocks during the mid-noon hours of trade in Stock market, it observes that shares in Balrampur Chini Mills Limited are trading down by 2.89 percent at Rs.62.20 on BSE.  The same stock movement is seen in NSE also.

Shares in DCM Shriram Limited is trading at Rs. 347.00 down by  2.13 percent,  Shree Renuka Sugars Ltd falling at Rs. 10.75 down by  3.50%, Dhampur Sugar Mills Ltd is trading at Rs 75.65 down by 3.81 percent, Dalmia Bharat Sugar & Industries is trading at Rs. 48.40 down by 4.25 percent in trade.