Sugar Futures On NCDEX Closed Lower On Tuesday

Sugar Futures on NCDEX closed lower on Tuesday but traded in a narrow range as Indian Sugar Mills Association (ISMA) assure that the supplies are comfortable and the country won't need to import sugar this season. However, sugar production in the country set to dip to seven-year low this season due to shortage of cane. ISMA) has lowered sugar production estimate for 2016-17 to 21.3 mt by about 9 % as compared to its estimate of 23.37 mt, projected in September 2016. Moreover, India's sugar production by mid-January is down by 6% as compared to the same period of previous year.

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