DJ MARKET TALK: India Sugar Stks Weak; Strong Production -Analyst
Published: 03/12/2010, 7:10:04 AM
DJ MARKET TALK: India Sugar Stks Weak; Strong Production -Analyst 0706 GMT [Dow Jones] India sugar stocks down on declining sugar prices, both global and domestic, local analyst says. "Sugar prices have been dull over the past two to three weeks as production from the top two sugar producing countries, Brazil and India, looks likely to be better than expected." Sentiment also weighed by news India's sugar mills are starting to renegotiate import deals they entered into before prices unexpectedly dipped in last 3 weeks. Shree Renuka Sugars (532670.BY) down 5.5% at INR154.20, Bajaj Hindusthan (500032.BY) off 2.3% at INR145.65, Balrampur Chini Mills (500038.BY) down 3.0% at INR93.65, Dhampur Sugar Mills (500119.BY) off 2.2% at INR82.75. Analyst adds, India has given its millers one more week to sell their unsold open-market sugar quota, this could lend some support. (amitha.rajan@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires 03-12-10 0206ET Copyright (c) 2010 Dow Jones & Company, Inc. DJ info: 5064,55106 N/DJCS,N/DJOS,N/OSAG,N/OSCM,N/OSTR,N/ALMT,N/ANL,N/ASMT,N/CMD,N/CNW,N/DJMT,N/DJW ,N/INMT,N/SCD,N/SGR,N/STK,N/WEI FSN35358 ACTV FINANCIAL FOOD GENERAL STOCKS SUGAR 2010-03-12 07:06:54 UTC ^^^^^^