Sugar stocks fell up to 6% after the government halted ethanol diversion.
Context
What happened: Indian sugar stocks fell in early trading after the government directed companies to stop diverting sugar for ethanol production. Balrampur Chini Mills and Bajaj Hindusthan Sugar were among those affected.
Key numbers: Sugar stocks declined between 2% and 6%.
Why it matters: The directive aims to boost domestic sugar availability amid rising prices, following concerns about potential production shortfalls due to insufficient rainfall.