Sugar Stocks Buzzing today - 04.01.2022
Sugar Stocks Buzzing today - 04.01.2022
Sugar Stocks Buzzing today - 04.01.2022
Sugar stocks trade higher as market sees robust earnings from aggressive policies - 04.01.2021
The government continues to push the aggressive ethanol blending programme as reflected in a 3-5% year on year hike in ethanol prices. Sugar stocks are trading higher today as investors expect robust earnings driven by the government’s aggressive ethanol blending programme.
Ethanol prices are currently significantly above petrol and alcohol import parity prices as the government is aiming at twin objectives: surplus sugar being diverted to ethanol (reduced subsidy burden), and a reduction in carbon emissions and dependence on crude imports,”
In October, the government announced an incentive to encourage sugar companies to divert excess sugar cane stock in producing ethanol, which can be blended with petrol and used as fuel in vehicles. The government continues to push the aggressive ethanol blending programme as reflected in a 3-5% year on year hike in ethanol prices, continued assistance for capacity expansion and robust demand from oil marketing companies.
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