Sugar Futures Gain On Monday

Sugar Futures gain on Monday on anticipation of supply deficiency in coming months. However, Government taking steps to stabilize price by imposing stock limits capped further gains. Sugar Jul futures closed 0.74% higher to settle at Rs. 3,555 per quintal. The Centre is considering option of lowering the import duty on sugar to boost supplies meanwhile, Maharashtra imposes stock-holding limits on sugar to check prices from rising.

India, the world’s largest producer after Brazil, is seen shipping 2.9 mt in 2015-16, making it the fourth-biggest exporter in 2015-16, according to data from the USDA. Moreover, domestic production is forecast to drop 2.2 mt to 25.5 mt due to lower area and yield and consumption is forecast to rise marginally to a record 27.2 mt.

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