Sugar Futures Close Higher On Tuesday



Sugar Futures close higher on Tuesday after government clarifies there is no plan to control sugar sales by mills to control the sugar prices. The most-active October sugar contract closed 1.57 percent higher to settle at 3,749 per quintal. According to the Agriculture Ministry, cane acreage as on July 29 stood at 46.8 lakh hectares (lh), higher than corresponding last year’s 45.9 lh. In Uttar Pradesh, acreage was at over 21.8 lh, up 6.2% from a year ago while in Maharashtra acreage fell by 36% on year to 633,000 ha. In Karnataka, it was up 12.1% compared with a year ago while in Tamil Nadu , the acreage is down by 8.8% at 268,000 ha.

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