Sugar Futures closed unchanged on Monday on expectation of good physical demand. The government is considering allowing imports of 3-5 lt of sugar at a concessional duty of 25%, as it weighs a raft of proposals to boost supplies in the build-up to the festival season, especially in southern states where a deficit is anticipated in September and October. The food ministry expects sugar output in 2017-18 (Oct-Sep) at 235-240 lakh tonnes (lt), much below 251 lt.

Outlook

Sugar futures may trade sideways on expectation of sufficient stock position with the mills while the demand is steady.

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