Dec 16, 2006

UP hiked sugarcane prices

UP sets FY07 sugarcane price at Rs 125-130/100kg. Prices in FY06 were Rs 115-121/100kg.

Thats bad news for the sugar companies.. This hike was kind of expected ahead of the UP elections. So sugar companies wil be squeezed on one hand from lower realisations and other from higher cane prices. Sugar stocks will see some negatives.

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