Reforms on the way, UP sugar stocks rise

Reflecting the immense confidence instilled in the sugar millers of Uttar Pradesh by UP CM Yogi Adityanath, the sugar stocks are trading higher on the bourses on April 21, 2017.

In a meeting with the millers of UP, under the aegis of Uttar Pradesh sugar millers association (UPSMA), the CM greatly focused on the issue of irregular payments to the farmers, directing the millers to clear payments in the next 14 days. The CM also assured the millers to assist them in establishing new manufacturing units along with adding capacity in the existing sugar mills across the state.

The delegation also expressed its inclination towards establishing a just pricing policy on the basis of economic logic, to ensure timely payments to the farmers, and also ease the availment of bank loans by the millers.

Meanwhile, the millers also called for the elimination of reservation policy of molasses, as at present, 25 per cent of the molasses are reserved for the liquor industry in accordance with the UP Excise Policy.

The industry supports about 40 lakh farmers through 116 sugar mills across the state, making payments of about Rs 22,500 crore to the farmers of the state.

Balrampur Chini trading at Rs 166.40, is up by 4 per cent on the BSE at 10:31 hrs on April 21, 2017. Triveni Engg is trading at Rs 98.10, up by 3.59 per cent at the same time. While Dhampur Sugar trading at Rs 251, is up by 5.84 per cent at the same time.