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Shares in Indian sugar refiners fell as Bajaj Hindusthan Sugar Ltd was down 1.9 per cent, Mawana Sugars Ltd 2 per cent, Balrampur Chini Mills Ltd 0.4 per cent and Shree Renuka Sugars Ltd 0.6 per cent.
India is likely to produce 27 million tonnes of the sweetener in 2014-15, up about 2 per cent from the previous estimate, industry body said.
Analysts said, “higher production will depress local prices further.”
This will dampen margins of sugar mills, many of them are struggling with cash flows, they added.
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