Sugar Futures Closed Lower Last Week

Sugar Futures closed lower last week as government extends curbs on holding of sugar stocks by six months for the sugar dealers and traders. The participation on exchange have been very spare last week and as a result the NCDEX cut special cash margin on sugar buy side by 10% to 25% from today. Currently, there is a stock limit of 500 tonnes and turnover limit of 30 days for sugar traders in the country other than those in West Bengal. The country's sugar output is estimated to fall for the second consecutive year to around 20 mt in 2016-17 season (Oct-Sep), much lower than the annual demand of 24-25 mt.

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