Mumbai/IBNS, Nov. 10 -- The sugar shares on Monday rallied after the central government approved export of around 1.5 million tonnes of sugar for the 2025-26 season, and removal of the 50 percent export duty on molasses.

The season runs from October-September.

Union Food Minister Pralhad Joshi said this in a letter to Karnataka Chief Minister Siddaramaiah on November 7.

Joshi said the decision of exporting is aimed at supporting sugar mills and cane farmers who are facing weak diversion into ethanol and elevant production levels, the daily said.

The policy announcement has triggered a rise in the prices of sugar stocks.

Among others, Dhampur Sugar Mills, Dwarikesh Sugar Industries and Bajaj Hindusthan Sugar rose at around 3-6 percent...