BAJAJHIND

** Indian sugar companies gain between 2.4% and 6.6%

** Indian government preparing for final decision on proposed ethanol price increase, ET Now reports citing sources

** Report says price of ethanol made from B-heavy molasses expected to rise by ~2 rupees/litre, while price of ethanol made from sugarcane juice likely to climb 1.50 rupees/litre

** Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, Dhampur Sugar Mills DAMS.NS, Dalmia Bharat Sugar and Industries DLMI.NS, E.I.D. - Parry (India) EIDP.NS, Shree Renuka Sugars SRES.NS, Triveni Engineering and Industries TREI.NS up 2.4%, 3.9%, 6.6%, 4.8%, 3%, 4.1% and 2.9%, respectively

** In 2024, BJHN, BACH, TREI, EIDP advanced 9.2%, 29.1%, 32.3%, 60.5%, respectively; SRES lost 16.3%, DLMI fell 12% and DAMS shed 36.3%

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Indian sugar companies jump between 3% and 7%

** ET Now reports citing sources that India is likely to lift restrictions on sugar exports

** India, the world's biggest sugar producer after Brazil, had banned mills from exporting the sweetener from Oct. 1, 2023

** Triveni Industries and Engineering TREI.NS, Shree Renuka Sugars SRES.NS, Dalmia Bharat Sugar DLMI.NS, Bajaj Hindusthan Sugar BJHN.NS and Balrampur Chini Mills BACH.NS jump 3%, 4.5%, 5.5%, 7.0%, and 7.2%, respectively

** In 2024, SRES fell 16%, DLMI was down 12%, while BJHN, BACH and TREI rose 9%, 29% and 32%, respectively

(Reporitng by Nishit Navin)

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By Rajendra Jadhav

MUMBAI, Dec 23 (Reuters) - Sugarcane yields in India are declining due to last year's drought and this year's excessive rains, which could reduce the country's sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.

Lower-than-expected output by the world's second-largest sugar producer could eliminate the possibility of India allowing exports in the current season ending in September 2025, supporting global sugar prices SBc1, LSUc1.

Maharashtra, Karnataka, and Uttar Pradesh account for more than 80% of the country's total sugar production, with lower cane yields in these states prompting trade houses to reduce their output estimates for the 2024/25 season.

The production could fall to around 27 million metric tons from the last year's 32 million tons and below annual consumption of more than 29 million tons, said India head of a global trade house, who declined to be named.

"During the summer months, the cane crop faced prolonged stress due to the lack of water," B.B. Thombare, president of the West Indian Sugar Mills Association told Reuters.

"When the monsoon season began, there was excessive rainfall and limited sunshine, which also adversely affected the crop's growth."

The adverse weather curtailed cane yields by 10 to 15 tons per hectare, Thombare said.

The western state of Maharashtra and neighbouring Karnataka, which together produce nearly half of India's sugar, received lower-than-average rainfall in 2023, bringing down reservoir levels.

"Usually, we harvest 120 to 130 tons of cane from one hectare of land, but this year yields have fallen to 80 tons despite all our efforts," says Shrikant Ingle, who cultivated cane on five acres of land in Maharashtra's Solapur.

Drought did not affect the crop in Uttar Pradesh, the country's leading sugar-producing state in the north.

However, plantations in the state were impacted by red rot disease, which reduced sugarcane yields, said a senior state government official.

"To control the spread of the disease, we are advising farmers to adopt new cane varieties," the official said.

The downward revision in the production estimate has eliminated the possibility of any exports in the current season, the head of the trade house said.

Sugar industry seeks 2 million tons of exports, while the government says it may allow limited exports, if any surplus remains after ethanol needs are met.

(Reporting by Rajendra Jadhav; Editing by Janane Venkatraman)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

By Rajendra Jadhav

MUMBAI, Dec 5 (Reuters) - Sugar prices in India fell to their lowest level in 1-1/2 year due to ample supplies, making it difficult for mills to pay farmers the cane price as the crushing season gains momentum, industry officials told Reuters.

The fall in prices is prompting industry to demand immediate revision in minimum selling price (MSP) to limit losses, which will improve mills' margins and allow them to make timely cane payments to millions of cane growers.

"Sugar prices have fallen below the cost of production. This makes it difficult for mills to pay the revised cane price unless sugar prices rise," said B.B. Thombare, president of the West Indian Sugar Mills Association.

Wholesale sugar prices SUG-ARSKOL-NCX at Kolhapur in western state of Maharashtra have fallen nearly 8% in past four months to 33,675 rupees ($397.60) per ton, the lowest since June 2023.

The government should quickly raise the MSP above 40,000 rupees per ton to make cane crushing viable for sugar mills, Thombare said.

Indian trade bodies have been demanding an increase in the MSP, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Sugar prices are falling as demand has decreased after the festival season, and new season supplies have begun, said Ashok Jain, president of the Bombay Sugar Merchants Association.

Indian mills have produced 2.79 million metric tons of sugar since the current season began on Oct. 1, down 35.4% year on year, a leading industry body said on Monday.

Mills in Maharashtra, which recently underwent state elections, sold more sugar than allocated, as mills controlled by politicians needed funds for election campaigns, said a Mumbai-based trader.

"The market was flooded with sugar in the past two months. This is why mills are now struggling to sell sugar, even at lower prices," the trader said.

($1 = 84.6950 Indian rupees)

(Reporting by Rajendra Jadhav; editing by David Evans)

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Oct 7 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• ISSUED NOTICE TERMINATING JV AGREEMENT WITH EVERENVIRO RESOURCE, UNIQUE ONE

Source text for Eikon: ID:nNSE5LylZp

Further company coverage: BJHN.NS

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* India's sugar companies jump between 6.5% and 10.2%

* Food minister on Thursday said that India is considering raising domestic prices of ethanol and sugar

* Shree Renuka Sugars SRES.NS, Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, EID Parry (India)EIDP.NS rose 10.2%, 6.5%, 8.3%, and 3.6%, respectively

* YTD SRES up ~12%, while BACH, BJHN, and EIDP gained ~58%, ~55%, and ~54%, respectively

(Reporting by Vijay Malkar)

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** Shares of Indian sugar makers gain between 6% and 9%

** Sugar mills in India will be allowed to produce ethanol from cane juice from Nov. 1, the govt said, after imposing curbs in 2023

** Balrampur Chini Mills BACH.NS jumps 6.2%, Shree Renuka Sugars SRES.NS gains 7.4% and Bajaj Hindusthan Sugar BJHN.NS adds 8.5% in early trade

** BACH has gained 50% YTD, while SRES and BJHN advanced 8% and 58%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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Adds details, comments from industry officials

By Rajendra Jadhav

MUMBAI, Aug 29 (Reuters) - India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday.

The world's second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output after cane crop was hit by below-average monsoon rains.

In the new season, distilleries can also use B-heavy molasses, a byproduct with higher sucrose levels, for ethanol production, the government said in the notification.

Around 750,000 metric tons of B-heavy molasses are lying in stock with mills after the government restricted ethanol production from this feedstock last year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"Now that the restriction is lifted, they can use these stocks," Naiknavare said.

Indian sugar mills such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS have increased their ethanol production capacity in the last few years.

The south Asian country also allowed distilleries to purchase up to 2.3 million metric tons of rice from the state-run Food Corporation of India (FCI) for ethanol production, the government said in a separate notification.

"The permission to utilise FCI rice as a feedstock will enhance ethanol production from dual-feed distilleries," said Vijay Nirani, managing director of TruAlt Bioenergy Ltd.

The two policy changes will not only help increase ethanol blending in gasoline but also help mills and distilleries make timely cane payments to millions of farmers, Nirani said.

India aims to increase ethanol production to blend 20% ethanol into gasoline by 2025-26, from around 13% now.

(Reporting by Rajendra Jadhav; Editing by Kirsten Donovan and Devika Syamnath)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

Repeats July 27 story to reach additional subscribers with no changes to text

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of India's Bajaj Hindusthan Sugar BJHN.NS extend gains for the second session, rise ~4%

** Sugar and ethanol maker jumped as much as 6.8% earlier

** BJHN said India's competition regulator passed judgement in favour of co in a case leveled by oil marketing firms alleging breach of competition act

** YTD stock has jumped ~56%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Bajaj Hindusthan Sugar Ltd BJHN.NS:

• BAJAJ HINDUSTHAN SUGAR- COMPETITION COMMISSION PASSED JUDGMENT IN FAVOR OF CO

• BAJAJ HINDUSTHAN SUGAR- CASE RELATED TO ALLEGED CONTRAVENTION OF PROVISIONS OF COMPETITION ACT

Source text for Eikon: ID:nBSE3hN1j0

Further company coverage: BJHN.NS

** Shares of Indian sugar companies surge on reports govt will increase minimum selling price for the commodity

** Shares of Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Bajaj Hindusthan Sugar BJHN.NS Dhampur Sugar Mills DAMS.NS and Balrampur Chini Mills BACH.NS rise between 4% and 14%

** EID Parry EIDP.NS up 2%

** BJHN hits highest since Sept 2011

** Bajaj Hindusthan top gainer among sugar stocks YTD, up 50%, while Dhampur down 1.5% so far this year

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

NEW DELHI, April 24 (Reuters) - India has agreed to allow oil marketing companies to procure ethanol by diverting an extra 800,000 metric tons of sugar for biofuel production, a government source said on Wednesday.

Concerns over sugar production due to below normal monsoon rains between June and September had led the world's second-largest to cap the amount that could be diverted for ethanol in the current season to end-September at 1.7 million metric tons.

But as the supply situation has improved as a result of unseasonal rainfall in Maharashtra and Karnataka, the government has agreed to the diversion of an additional 800,000 tons of sugar for ethanol production, said the senior industry official.

"Many sugar mills produced B-heavy molasses in anticipation of ethanol production. However, these stocks remain unused after the government capped the diversion of sugar for ethanol. Mills can now use stored B-heavy molasses for ethanol production," said the official, who spoke on condition of anonymity.

(Reporting by Mayank Bhardwaj and Rajendra Jadhav; Editing by Alexander Smith)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

By Rajendra Jadhav

MUMBAI, April 23 (Reuters) - India's sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures.

Higher consumption would lift local prices and boost margins of sugar producers such as Balrampur Chini BACH.NS, Shree Renuka Sugars SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS and help them in making cane payments on time to farmers.

Consumption of cold drinks and ice cream, and as a result demand for sugar, rises in India during the summer months roughly from mid-March to mid-June.

But this year demand is above average as heat waves and election rallies boost consumption of ice-cream and soft drinks, said Avantika Saraogi, executive director at Balrampur Chini Mills.

Maximum temperatures in many parts of India have risen above 40 degrees Celsius, and the weather department has forecasted that the country is likely to experience more heat-wave days than normal between April and June.

During the harsh summer, India is hosting the world's largest election, in which nearly a billion people will be eligible to vote.

Political parties hold huge rallies, some attended by as many as 200,000 people, undeterred by the sweltering heat, which only intensifies as the campaign picks up pace.

Earlier this week, following an energetic election rally at Pune in the scorching afternoon sun, dedicated workers of a political party flocked to a nearby restaurant to quench their thirst with refreshing soft drinks.

"It's sweltering out there. We need something icy to keep us going in this heat," said Mahesh Pawar, one of the workers.

"We're grateful to our leader for providing us with these refreshing beverages to keep our spirits high."

SWEET SUMMER

India's sugar consumption in during April-June could rise to 7.5 million tons, up 5% from a year ago, said a Mumbai-based dealer with a global trade house.

This year's unusual rise in consumption is temporary, with demand growth returning to a normal pace next year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"But right now the industry is experiencing an unusual boost in demand. This is expected to lift total consumption this year to a record 29 million metric tons," Naiknavare said.

India's sugar consumption in the 2022/23 marketing year, which ended on Sept. 30, stood at 27.85 million tons.

Higher demand has already begun lifting sugar prices, which have risen nearly 3% in a fortnight.

The government has allocated a higher quota for April compared to last year, but prices are still rising due to robust demand from bulk consumers, said Ashok Jain, president of the Bombay Sugar Merchants Association.

(Reporting by Rajendra Jadhav; editing by David Evans)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of sugar firms EID Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka Sugars SRES.NS, Dwarikesh Sugar DWAR.NS, Bajaj Hindusthan Sugar BJHN.NS settle 1.5%-5% lower

** Indian government on Monday ruled out possibility of allowing sugar exports in 2023-24 season ending October, newspaper Business Standard reported, citing Press Trust of India

** Sugar exports in India currently curbed for an indefinite period

** Fall amid broader sell-off in the markets, benchmark Nifty 50 .NSEI settled 1.1% lower

** YTD, BJHN and EIDP up 11.3% and 9.3%, respectively, while SRES, BACH and DWAR down 8.4%-15.7%

(Reporitng by Nishit Navin)

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** Shares of sugar cos Dwarikesh Sugar DWAR.NS, Balrampur Chini Mills BACH.NS, EID Parry EIDP.NS, Shree Renuka Sugars SRES.NS and Bajaj Hindusthan Sugar BJHN.NS down between 1%-3%

** India says it will raise floor price that mills must pay for sugar cane in the 2024/25 season by 8% from Oct. 1

** Govt fixes buying price of sugar cane at 340 rupees ($4.10) per 100 kg for next season, up from this year's 315 rupees

** As of YTD, DWAR down 7.4%, BACH fallen nearly 8%, while SRES, EIDP and BJHN up between 3%-34%

($1 = 82.9140 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

Feb 16 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• TO ACQUIRE 15.5% SHAREHOLDING OF UNIQUE ONE RNG

• PROPOSED COST OF ACQUISITION IS 15.5 MILLION RUPEES

Source text for Eikon: ID:nBSEbGfBLQ

Further company coverage: BJHN.NS

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Feb 9 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• BAJAJ HINDUSTHAN SUGAR DEC-QUARTER CONSOL NET PROFIT 202.8 MILLION RUPEES VERSUS LOSS 583.6 MILLION RUPEES

• BAJAJ HINDUSTHAN SUGAR DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 17.41 BILLION RUPEES VERSUS 14.31 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BJHN.NS

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** Shares of Indian sugar companies rise between 1% and 3% after Reuters reported India's state fuel retailers raised procurement prices for ethanol

** Move aimed at boosting production of ethanol, which is used for blending with petrol

** Shares of Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Bajaj Hindusthan Sugar BJHN.NS Dhampur Sugar Mills DAMS.NS rise between 1% and 3%

** Balrampur Chini Mills BACH.NS gain 3%

** Meanwhile, refiners were down, with Bharat Petroleum Corp BPCL.NS, Indian Oil IOC.NS and Hindustan Petroleum Corp HPCL.NS falling between 3%-4%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

By Mayank Bhardwaj and Rajendra Jadhav

NEW DELHI/MUMBAI, Dec 7 (Reuters) - India directed sugar mills not to use cane juice or syrup to produce ethanol, the government said in a notification on Thursday, as New Delhi tries to increase sugar supplies by curtailing ethanol production.

Reuters had reported on Wednesday that the government was planning to discourage the diversion of sugar for ethanol production as part of efforts to ensure sufficient supplies of the sweetener in the local market.

Fuel retailers, under current contracts, are permitted to keep their procurement of ethanol derived from B-heavy molasses, a byproduct with higher sucrose levels, the government said.

It would also allow the diversion of 1.04 million metric tons of B-heavy molasses for ethanol production under existing contracts, government officials said.

The moves will help to reduce diversion of around 2.14 million tons of sugar for ethanol-making from cane juice, they said.

An industry official had said on Wednesday the government would allow mills to produce ethanol only from C-heavy molasses, a cane by-product that has hardly any sugar content left in it.

Shares of Indian sugar and ethanol makers such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS , Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS closed up to 6% lower on Thursday.

India's fuel retailers buy ethanol from sugar mills to blend with gasoline and pay a higher price for ethanol produced from juice and B-heavy molasses.

Patchy rains in the top sugar cane-growing western state of Maharashtra and southern Karnataka state have raised concerns about this year's sugar output.

The Indian Sugar Mills Association, a producers' body, last month said sugar production is likely to fall 8% to 33.7 million metric tons in the 2023/24 marketing year.

The likely production drop has lifted local sugar prices SUG-MMZR-NCX to their highest levels in nearly 14 years.

(Reporting by Rajendra Jadhav and Mayank Bhardwaj ; Editing by Emelia Sithole-Matarise)

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Nov 9 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• INDIA'S BAJAJ HINDUSTHAN SUGAR LTD SEPT-QUARTER NET LOSS AFTER TAX 1.4 BILLION RUPEES VERSUS LOSS 1.6 BILLION RUPEES

• BAJAJ HINDUSTHAN SUGAR LTD SEPT-QUARTER REVENUE FROM OPERATIONS 11.3 BILLION RUPEES VERSUS 13.2 BILLION RUPEES

Source text for Eikon: ID:nNSE6SWKH7

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Oct 26 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• INDIA TRIBUNAL DISMISSED PETITION FILED BY STATE BANK OF INDIA AGAINST CO

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** Shares of Indian sugar manufacturers rise between 1.7% and 6.1%

** Sugar prices in India have jumped by more than 3% in a fortnight to their highest level in six years, Reuters reported on Tuesday

** Limited rainfall in the country's key growing regions raised production concerns for the upcoming season which could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are near their highest in more than a decade

** Balrampur Chini Mills BACH.NS up as much as 2.2%, Shree Renuka Sugars SRES.NS climbs 5.5%, Dalmia Bharat Sugar DLMI.NS gains 8% and Dwarikesh Sugar DWAR.NS adds 3.7%

** Higher prices will, however, improve margins for producers such BACH, DWAR, SRES and DLMI, helping them make payments on time to farmers, dealers told Reuters

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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By Rajendra Jadhav

MUMBAI, Sept 5 (Reuters) - Sugar prices in India have jumped by more than 3% in a fortnight to their highest level in six years, traders and industry officials said, as limited rainfall in the country's key growing regions raised production concerns for the upcoming season.

This could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices SBc1, LSUc1 which are near their highest in more than a decade.

"Sugar mills are worried that production could fall sharply in the new season because of drought. They are not willing to sell at lower price," said Ashok Jain, president of the Bombay Sugar Merchants Association.

Higher prices will, however, improve margins for producers such as Balrampur Chini BACH.NS, Dwarikesh Sugar DWAR.NS, Shree Renuka Sugars SRES.NS and Dalmia Bharat Sugar DLMI.NS, helping them make payments on time to farmers, dealers said.

Sugar output could fall by 3.3% to 31.7 million metric tons in the new season starting from Oct. 1 as low rainfall hits cane yields in the western state of Maharashtra and Karnataka in southern India, which together account for more than half of total Indian output, a leading trade body estimated.

Although sugar prices SUG-MMZR-NCX rose to 37,760 rupees ($454.80) per metric ton on Tuesday, their highest since Oct. 2017. Indian prices are nearly 38% lower than the global white sugar benchmark LSUc1.

The price rise will dissuade the Indian government from allowing exports in the new season, Jain said.

India allowed mills to export only 6.1 million metric tons of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million metric tons last season.

New Delhi is expected to ban mills from exporting sugar in the season beginning October, halting shipments for the first time in seven years, three government sources told Reuters last month.

Sugar prices could rise further in the coming months as stocks are falling, and the peak festive season is approaching, said a Mumbai-based trader.

(Reporting by Rajendra Jadhav; Editing by Alexander Smith)

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July 31 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• JUNE-QUARTER CONSOL NET LOSS 743.4 MILLION RUPEES VERSUS LOSS 449.1 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.60 BILLION RUPEES VERSUS 15.3 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BJHN.NS

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May 29 (Reuters) - Bajaj Hindusthan Sugar Ltd BJHN.NS:

• MARCH-QUARTER CONSOL NET PROFIT 1.31 BILLION RUPEES VERSUS PROFIT 597.2 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 20.54 BILLION RUPEES VERSUS 16.22 BILLION RUPEES

Source text for Eikon: ID:nBSE7lKk4y

Further company coverage: BJHN.NS

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