Domestic sugar companies, some of which generated stupendous returns over the past one year, could continue outperforming benchmark indices, like the Sensex, in the coming months. The projections of outperformance are based on the sweetener moving from a global surplus of 4 million tonnes to a global deficit of 4 million tonnes in the next sugar season. Even those companies whose stocks have bled might experience some relief. However, a sugar industry source said exports would be an ideal way to draw down the huge carryforward stocks that have kept a lid on prices. The retail price of sugar in Mumbai was Rs 39 a kilo on June 12, down Rs 2 from a year ago, according to consumer affairs' ministry data.
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