Sugar Futures Closed Lower On Tuesday



Sugar Futures closed lower on Tuesday on expectation of starting of early crushing in Maharashtra coupled with good supplies of sugar in domestic market. The most-active December sugar contract closed 0.51% down to settle at 3,532 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 256 lt.

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