Sugar Futures Fell Sharply On Thursday

Sugar Futures fell sharply on Thursday as Central government is taking steps to stabilize prices by imposed stock limits on sugar mills during the festival season until October-end. The most-active October sugar contract closed down by 1.49% to settle at 3,577 per quintal. Industry sources estimate 4.8-4.9 mt would be released in the market by October 31, nearly one mt of additional quantity. A7 notification from the Centre last week directed mills not to hold more than 37 per cent of their annual production as inventories by the end of this month, to go down to 24 per cent by end-October.

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