Sugar Stocks Surge as Government Allows Mills to Divert Sugar for Ethanol

Sugar Stocks Surge as Government Allows Mills to Divert Sugar for Ethanol

The sugar sector experienced a significant surge on Monday following media reports that the government has made the decision to permit sugar mills to divert a substantial amount of sugar for ethanol production. This move comes as a result of the implementation of curbs on the diversion of sugar for ethanol production, which aims to guarantee ample supplies in the local market. The decision to enable the diversion of up to 1.7 million metric tons of sugar for ethanol production has sparked a positive response in the stock market, with sugar stocks jumping up to 15%. This move is expected to benefit both the sugar industry and ethanol production.

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TIS Staff

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