Sugar Futures Recover A Little On Wednesday

Sugar Futures recover a little on Wednesday after more than 2% on Tuesday due to steady demand from the physical market. Maharashtra government seeks differential pricing for sugar where industrial buyers have to pay more while retail consumer pays less. There are reports of rebound of sugarcane production in the next year due to higher acreage. As per USDA, India’s sugar production in marketing year (MY) 2017/18 (Oct-Sept) is expected to increase by 18% to 25.8 mt. Moreover, government extends curbs on holding of sugar stocks by six months for the sugar dealers and traders.

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