Sugar Stocks Soar Up to 12% Amidst Crude Oil Surge, Outperforming Weak Market

• Sugar company shares jumped 2% to 12% on Monday, March 30, despite a broader market sell-off.
• The rally is fueled by a sharp spike in crude oil prices, making ethanol production more attractive.
• Higher crude prices boost ethanol's viability and profitability, allowing sugar companies to improve margins by diverting sugarcane to ethanol.
• Expected decline in Brazil's sugar production and a weaker rupee could further benefit Indian sugar exporters.
• Individual stocks like Shree Renuka Sugars and Dalmia Bharat Sugar gained up to 11%.