SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD DEC 05
MCX SILVER DEC 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD DEC 05
MCX SILVER DEC 05
MCX CRUDEOIL NOV 16
MCX NATURALGAS OCT 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Sensex ends flat, Nifty above 14,950; energy stocks gain

Shares, dollar cheer US stimulus, bonds downcast

Brent cracks $70 for first time since pandemic began after Saudi facilities attacked

Rupee falls 14 paise to 73.16 against US dollar in early trade

Dhampur Sugars earmarks 1/5 produce for exports after govt's Rs 3,500 crore subsidy

Updated : December 17, 2020 02:13 PM IST

The union cabinet on Wednesday approved Rs 3,500 crore subsidy package for the export of around 60 lakh tonne of sugar in FY21. To understand the implications and what kind of impact it can have on Dhampur Sugars, Gaurav Goel, MD of the company spoke to CNBC-TV18.

On the subsidy package, Goel said, “What the government has done is extremely prudent. I think this was the need of the hour. India is going to produce 31-31.50 million tonne vis-à-vis on offtake of about 26 million tonne. So this 6 million tonne we really help the Indian sugar mills to take away their stock.”

“India has geared up to export this full 6 million tonne as the government has said. Even though the amount that has been paid up Rs 3,500 is slightly on the lower side, but I think it is fine. But overall it is a great program and I am very sure that Indian will export a full 6 million tonne over the next 10 months,” he added.

On exports from Dhampur Sugars he said, “What we are seeing generally is about one-fifth of what we produce will be for exports. We have sufficient stock to take care of our export quota.”

On sugar prices, he reasoned, “As soon as exports happen the pressure on local sales will surely come down."

Watch the video for more

Published : December 17, 2020 02:12 PM IST

You May Also Like

Punjab Budget: Government says will waive off loans worth Rs 1,186 crore of 1.13 lakh farmers

Punjab Budget: Government says will waive off loans worth Rs 1,186 crore of 1.13 lakh farmers

Easy Trip Planners IPO subscribed 1.09 times on day 1, retail portion at 5.97 times

Easy Trip Planners IPO subscribed 1.09 times on day 1, retail portion at 5.97 times

Govt mandates dual air bags in new models from April 1

Govt mandates dual air bags in new models from April 1

Trending on CNBC-TV18

Live TV

recommended for you