7/12/2016 11:56:00 AM
Sugar Futures continue its sideways movement and
closed lower on Monday. Sugar Oct futures closed 0.08% down to settle
at Rs. 3,800 per quintal. Overall sugar continues to trade range
bound on sufficient availability of sugar due to government policies
on sugar exports and stock limits. According to data released by the
agriculture ministry, acreage under sugarcane in India was at 45.8
lakh hectares as on last week, up 4.8% from 43.7 lakh hectares a year
ago. The acreage in Maharashtra, largest producer of sugar, has
fallen 7.2% on year to 762,000 ha, while in Karnataka, it was down
3.0% from a year ago. However, in Uttar Pradesh and Tamilnadu the
area is higher than last year.
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