Sugar Futures Closed Lower On Monday

Sugar Futures closed lower on Monday on expectation of early crushing in Maharashtra as majority of sugar mills have applied for the same. The most-active December sugar contract closed 0.17% down to settle at 3,550 per quintal.

The sugar commissionerate in Pune has received applications for the early crushing of cane from several sugar mills across the region. A sugar commissionerate official said that the applications have been made for early crushing as against the state set start date of December 1. As per ISMA’s first advance estimate, sugar production in 2016-17 is pegged at 234lakh tonnes (lt) and with carry over stock of 75 lt from 2015-16 SS, there will be enough sugar available for next year to meet the domestic demand of about 256ltr

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