Sugar Futures Closed Higher

Sugar Futures closed higher on Wednesday due to good demand from the market participants on reports of slowing production due to cane scarcity in Maharashtra. The most-active March sugar contract closed 0.71% higher to settle at 3,681 per quintal Sugar production in India has increased marginally this season due to early crushing in states like Uttar Pradesh and Karnataka. As per ISMA, Indian sugar mills produced 2.74 mt of sugar between Oct. 1 and November. 30, up 17% compared to last year same period.

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