Sugar Futures Traded On Negative Note On Thursday

Sugar Futures traded on negative note on Thursday due to limited demand from the stockists at higher levels and tracking weak international prices. India’s sugar production fell by 10 % to 128.6 lt in the first four months of the 2016-17 marketing year that started October last, due to lower cane production in Maharashtra because of drought. Earlier, ISMA has lowered sugar production estimate for 2016-17 to 21.3 mt by about 9% compared to 23.37 mt, projected in Sep 2016. Raw sugar futures on ICE turned lower as the market lacked a clear overall trend as it waited to see whether or when India might import supplies following a poor crop this year.

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