NCDEX Sugar futures may trade on a mixed note, as there are ample supplies of white sugar in the domestic market as sugar companies are unable to export raw sugar as world prices are more competitive. Buying support at lower prices may cap further fall. Sugar Mar. futures closed 1.85 per cent lower in the last trading session on rising supplies and weaker demand. The traders have huge stocks of sugar lying with them following persistent supply from the sugar mills. Sluggish exports demand of raw sugar might weigh down the prices.
As per the latest estimates released by the Indian Sugar Mills Association (ISMA), India produced 194 lakh tonnes (lt) of sugar up to February 28, about 23.6 lt more than at the same time last season. Maharashtra, the country’s largest sugar producing State, produced 74 lt, against an output of 57.54 lt last season.
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As per the latest estimates released by the Indian Sugar Mills Association (ISMA), India produced 194 lakh tonnes (lt) of sugar up to February 28, about 23.6 lt more than at the same time last season. Maharashtra, the country’s largest sugar producing State, produced 74 lt, against an output of 57.54 lt last season.
Get real time advice for Agri Commodity Tips , Best NCDEX Tips Provider , Agri Commodity Trading , Agri Trading Tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
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