Sugar Futures Jumped Further

Sugar Futures jumped further and closed higher for fifth successive day yesterday on reports of robust export figures from ISMA. Sugar May futures closed higher by 0.50% to settle at Rs. 3,429/quintal. Indian millers have so far, contracted about 13.88 lakh tonnes of sugar for exports against 2 lt in the corresponding period last year. India has exported 29.95 lakh tonnes (LT) of sugar during the first ten months of the current fiscal out of the 40 lt of sugar, government has mandated for the sugar millers. Indian mills have achieved 19.94 mt, which is 2 % at increase in sugar production for Oct-Feb period. Sugar production of India, is estimated to decline at 26 mt in 2015-16 marketing year against 28.3 mt in the previous year on deficient rains.

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