With an optimistic outlook for the sector, these sugar stocks are tempting investors with their stellar returns! Do you own them?

Here is a list of the best-performing sugar sector stocks that impressed investors with their outstanding returns!

While Indian domestic indices were declining in line with the weakness in the global markets, sugar stocks were attracting investors with their bullish upward trend.  

The sugar industry in India is a significant agro-based industry. After Brazil, India is the world's second-largest producer of sugar and is also the biggest consumer. 

According to the Department of Food and Public Distribution, sugar industry has an impact on the rural livelihoods of approximately 50 million sugarcane farmers and 5 lakh workers directly employed in sugar mills. Nearly 2.5 crore people who cultivate sugarcane in India profit from the industry as well. The current value of the Indian sugar industry's annual output is about Rs 80,000 crore.   

India's determination to promote biofuel use has resulted in a tremendous growth in ethanol output during the previous five years, which is still on-going. The demand for ethanol is keeping up and is expected to rise further as the country strives for 'energy independence.'   

India has the capacity to manufacture an adequate amount of sugar. The government urged sugar producers in October 2021 to shift excess sugar cane stock into the production of ethanol, which can be combined with petrol and used as fuel in vehicles. Furthermore, this is an excellent answer to the country's problem of excess sugar production. Following that, sugar company stocks skyrocketed due to the government's double incentive for manufacturing ethanol.   

Here is a list of the best-performing sugar sector stocks that impressed investors with their outstanding returns: