Sugar Futures Fell On Monday

Sugar Futures fell on Monday on reports of higher sugar production figures by ISMA for the current sugar season till Dec 15. The lower production of sugar in Maharashtra has been compensated by two fold increase in Uttar Pradesh sugar production. The most-active March sugar contract closed 0.91% lower to settle at 3,597 per quintal. The country is likely to produce 23.4 mt sugar in 2016/17, down about 7% from a year earlier as back-to-back droughts ravaged cane crops in the top producing western state of Maharashtra and Karnataka.

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