Sugar Stocks Witness Correction As Centre Decides To Cap Export Of Sugar | Business Lunch

Shares of sugar companies were under pressure for the second straight day on Wednesday, a day after the government announced restrictions on sugar exports that kick in from June 1, the latest in a string of measures to curb surging inflation. The rationale is to curb sugar exports and reduce the price of sugar in the domestic markets. “As per the order issued by DGFT, with effect from 1st June, 2022 till 31st October, 2022, or till further order, whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Public Distribution," it said.#BusinessNews #BusinessNewsToday #BusinessNewsInEnglish #ShareMarketTodayAbout CNBC-TV18: