Sugar Futures On NCDEX Closed

Sugar Futures on NCDEX closed little lower yesterday on profit booking but tight supplies capped further loss. Sugar May futures closed lower by 0.33% to settle at Rs. 3,336 per quintal. Sugar production down almost 11% in the current season at 24.6 mt , compared to 27.6 mt produced in the 2014-15.

Moreover, as per government estimates, country is likely to start the 2016/17 marketing year on Oct. 1 with 7 mt in carry-forward stocks, down 21.3 % from a year ago. To control the domestic prices, India may scrap an order that requires sugar mills to export mandatory 3.2 mt of excess supply

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