Sugar Futures jumped higher on Tuesday tracking firm International sugar prices and good physical demand from industrial buyers. 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 (OctSept) 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.

Outlook

Sugar futures to trade sideways to higher on expectation of improvement in physical demand. However, balanced demand and supply levels in the physical market may keep prices range bound.

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