Sugar Futures closed unchanged last week but the trend is looking positive on anticipation of good festival demand and reports that country may see tight supplies despite a 20% rise in output expected in 2017-18 (Oct-Sep), as ending stocks are seen tumbling to multi-year lows. Moreover, imposing stock limits on sugar mills government is likely to allow import of 300,000 tn of raw sugar at 25-30% import duty.

Outlook

Sugar futures may trade sideways to higher on good festive demand, tight supplies also reports of no early crushing by Maharashtra mills.

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