Sugar Futures closed unchanged on Thursday on expectation that the production in the country will jump 24% in 2017/18 to around 25 mt. The country's sugar output in the ongoing 2016-17 marketing year (October-September) is estimated to be lower at 20.2 mt because of poor rains. India is the world's second biggest sugar producer.

Raw sugar futures on ICE jumped 1% on Thursday on potentially tight short-term supply spurred short-covering. White sugar from Thailand and Central America is also not yet available, while Brazil is refining less sugar amid low margins.

Outlook

Sugar futures may trade sideways on good festive demand, but forecast of higher production and good availability of sugar with the mills may keep the prices steady.

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