This is the third straight year when the state government has decided not to hike the price of cane. The SAP was last increased by Rs 10 per quintal in 2017, soon after the Yogi Adityanath government came to power.
Sugar stocks continued to trade higher on Friday despite the food and consumer affairs ministry proposing a 25 per cent duty on exports of sugar to boost domestic supplies and stem a rise in prices witnessed in recent months.
Sugar companies shares such as Shree Renuka Sugars and Balrampur Chini Mills closed 14.49 per cent and 8.23 per cent up at Rs 13.91 and Rs 92.75. Other sugar majors Sakthi Sugars and Dhampur Sugar Mills ended 16.01 per cent a