Sugar Futures On NCDEX Continue Its Fall



Sugar Futures on NCDEX continue its fall for the second consecutive day yesterday on reports of higher sugar production by the sugar mills during the first quarter of current marketing season.

Sugar mills produced 79.85 lt of sugar higher by 6.5 per cent compared to last season’s production. Sugar Mar futures closed down 0.47% at Rs. 3,189 per quintal.

ISMA has forecast India's sugar output at 27 mt this season as compared to 28.3 mt last year. As per information ISMA press release, sugar mills have contracted for export of around 8 lt of sugar till date and have physically dispatched around 3 lt of sugar for exports.

In the recent development, Central government has scaled up blending targets from 5% to 10% to promote blending of ethanol with petrol.

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