Dhampur Sugar Mills Soars Over 3%

Dhampur Sugar Mills, one of the leading integrated sugarcane processing companies in India soared on the bourses with gains as much as 3.3% on the NSE at 1000 hours.

The Cabinet Committee on Economic Affairs (CCEA) has agreed to fix the fair and remunerative price (FRP) for sugarcane at Rs 255 per quintal for the new sugar season (October-September) in a meeting held on May 24, 2017.

This 11% rise in FRP has taken place after two years. Last year, the government had kept prices unchanged at Rs 230 per quintal.

ICRA, a leading research and credit rating agency, said the 11% increase FRP for sugarcane is likely to impact sugar millers’ margins.

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