Sugar stocks sour after CCEA defers decision on decontrol
Sugar stocks were under pressure since early trade on Wednesday after the cabinet committee on economic affairs (CCEA) deferred a decision on sugar decontrol yesterday. No new date has been fixed yet for taking up the issue. The government was expected to discuss the much-awaited measure to abolish the levy-sugar mechanism , under which private millers are required to sell a specified amount of the sweetener to the government at concessional rates. The expert panel, headed by PMEAC Chairman C Rangarajan, had recommended immediate removal of two major controls – regulated release mechanism and levy sugar obligation in October 2012. Shree Renuka Sugars, Simbhaoli Sugar and Dharani Sugars tumbled more than 6 percent.
The Andhra Sugars Limited was established on the 11th of August, 1947. We have used locally available renewable resources to produce value-added products, generating employment for the rural population and helping in boosting the rural economy.