Indian sugar mills association

Talk Of Removal Of Stock Limit

Date:	22 Jun 2011

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News ID:	579

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News Flash DEPOMED-SUN PHARMA: DEPOMED FILES PATENT INFRINGEMENT LAWSUIT AGAINST SUN PHARMA Expand Article Hike in levy sugar price sweetens sugar shares Ads by Google Live TV on Idea 3G – Wish you could take your TV everywhere. With Idea 3G, you can www.idea3g.co.in Seven sugar stocks rose 0.06% to 20% on reports the government has increased provisional levy on sugar prices for the ongoing October-September sugar season. Bajaj Hindustan Sugar (up 20%), Simbhaoli Sugars (up 10.62%), Shree Renuka Sugar (up 3.57%), Bajaj Hindusthan (up 3.03%), Triveni Engineering & Industries (up 1.65%), Balrampur Chini Mills (up 1.13%) and EID Parry (up 0.06%), spurted. According to reports, the government has raised levy sugar price to Rs. 18 a kilogram for supply in the crop year ending 30 September 2010, up from an average of Rs. 13.05 last season. Farm Minister Sharad Pawar was quoted by the media as saying that the new price will apply to the entire crop year retrospectively. India’s sugar mills are required to sell 20% of their production at a controlled price to the government for resale to the poor under the so-called levy quota. The mills can sell their remaining output at market rates. Pawar also said that the government plans to pare the levy quota from 20% to 16% to increase the supply to the open market. The proposal will be discussed at the next meeting of a ministerial panel on food, he added. Meanwhile, Bajaj Hindusthan Sugar surged after Bajaj Hindusthan on Monday, 14 June 2010, said its board will meet on Thursday, 17 June 2010, to consider amalgamation of Bajaj Hindusthan Sugar and Industries, a 75% listed subsidiary, with the company. Read more at: http://profit.ndtv.com/news/show/hike-in-levy-sugar-price-sweetens-sugar-shares-74526?cp

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