Balrampur Chini Mills Ltd., the second-biggest Indian sugar producer, expects sweetener prices to extend a rally as production heads for a second year of decline. Shares of sugar mills climbed in Mumbai.
Production in India will drop 5 percent to 7 percent in the year beginning Oct. 1 from about 25.5 million tons in 2015-16, the company said in an exchange filing. “Considering the demand-supply scenario, the trend is expected to be firm for sugar prices for 2016-17,” Balrampur said.
Mar 31, 2016