Sugar Futures Recovered On Friday

Sugar Futures recovered on Friday on better export prospects and lower cane production. Sugar Mar futures closed 0.34% higher at Rs. 2,976 per quintal. As per, the Indian Sugar Mills Association showed India's sugar output at 2.36 mt by November 30 as compared to 1.89 million tonnes produced by the same time last year. High sugar output was partly attributed to more number of mills became operational this year compared to last year. ISMA has forecast India's sugar output at 27 million tonnes this season as compared to 28.3 million tonnes last year.

Trade sources said that sugar mills have finalized contracts for around 4 lt of contracts for exports, mostly as white sugar and that around 1.75 lt of sugar exports have taken place since October 1.

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