Sugar Futures Fell To One And Half Months Low

Sugar Futures fell to one and half months low on Thursday due to higher availability of sugar in the domestic market as government extends curbs on holding of sugar stocks by six months for the sugar dealers and traders. As per USDA, India’s centrifugal sugar production in marketing year (MY) 2017/18 (Oct-Sept) is expected to increase by 18% to 25.8 mt. Uttar Pradesh will be the largest producer of sugar in India, followed by Maharashtra. As per trade sources, Maharashtra's sugarcane acreage in 2017-18 (Jul-Jun) is likely to rise 29% on year to 900,000 ha.

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