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India's sugar production up by 24% so far
The ISMA announced that India’s sugar production has increased by 24% to 22mn tonnes
till February 15, 2011. Crushing in Maharashtra is still on, while it is nearing closure in
Uttar Pradesh. Given the continuing crushing season in Maharashtra, we believe
production figures would be revised upwards as the season draws to an end by September.
We maintain our annual production target of 26mn tonnes for SY2011 and expect India to
be a sugar-surplus state even after the export 0.5mn tonnes of sugar. Consequently, we
expect sugar prices to continue to remain at subdued levels. We maintain our Neutral view
on the sector and our stocks Bajaj Hindusthan and Balrampur Chini Mills.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India's sugar production up by 24% so far
The ISMA announced that India’s sugar production has increased by 24% to 22mn tonnes
till February 15, 2011. Crushing in Maharashtra is still on, while it is nearing closure in
Uttar Pradesh. Given the continuing crushing season in Maharashtra, we believe
production figures would be revised upwards as the season draws to an end by September.
We maintain our annual production target of 26mn tonnes for SY2011 and expect India to
be a sugar-surplus state even after the export 0.5mn tonnes of sugar. Consequently, we
expect sugar prices to continue to remain at subdued levels. We maintain our Neutral view
on the sector and our stocks Bajaj Hindusthan and Balrampur Chini Mills.
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