Mumbai: Shares in sugar refiners rose as domestic sugar futures extended gains, helped by higher demand and by concerns poor rainfall in cane-growing areas could trim next year's production.
The key August contract on India's National Commodity and Derivatives Exchange has so far risen 18.8 per cent from the start of June.
Almost all key sugar producing regions in the country have received over 32 per cent less rainfall since the beginning of the monsoons on June 1.
Late monsoon rains over the two main cane-growing areas in India may reduce the 2012/13 output by some 19 per cent, but the overall crop is likely to see a surplus due to increased output from another region, according to officials.
Balrampur Chini rallied 4.2 per cent after gaining more than 25.1 per cent since the start of June. Bajaj Hindusthan added 2 per cent, after gaining 33.3 per cent in the same period.
Copyright Thomson Reuters 2012
The key August contract on India's National Commodity and Derivatives Exchange has so far risen 18.8 per cent from the start of June.
Almost all key sugar producing regions in the country have received over 32 per cent less rainfall since the beginning of the monsoons on June 1.
Late monsoon rains over the two main cane-growing areas in India may reduce the 2012/13 output by some 19 per cent, but the overall crop is likely to see a surplus due to increased output from another region, according to officials.
Balrampur Chini rallied 4.2 per cent after gaining more than 25.1 per cent since the start of June. Bajaj Hindusthan added 2 per cent, after gaining 33.3 per cent in the same period.
Copyright Thomson Reuters 2012
