Sugar Futures closed higher on Friday due to some recovery from lower levels. Overall sugar continues to trade down due to sufficient availability of sugar due to government policies on sugar exports and stock limits. Sugar Jul futures closed 0.50% higher to settle at Rs. 3,605 per quintal.Ministry of Consumer Affairs, Food & Public Distribution said in a note that there is more than enough sugar in the country to meet domestic requirement. 

Even in coming sugar season 2016-17, there would be no shortage of domestically produced sugar in India. The production of sugar estimated at about 25.1 mt in the current sugar season (2015-16) while demand about 25.5 mt.

 The Centre is also considering option of lowering the import duty on sugar to boost supplies if prices rise further. As per ISMA, India has exported over 1.6 mt of sugar so far in 2015-16 marketing year that started from October last, up 46% from the whole of previous year.

Preliminary estimates by the Maharashtra State Federation of Cooperative Sugar Factories are for state production of 4.5 mt in 2016- 17, against 8.4 mt in 2015-16 and 10.5 mt in 2014-15. The fall is attributed to drought in cane growing districts.

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