Expect Sugar futures to trade sideways: Angel Commodities
According to Angel Commodities, Sugar futures may trade sideways as the supplies have been sufficient in the domestic market.
Angel Commodities' report on Sugar
Sugar Futures close with little change due to reports of record sugar production next year. Sugar output in Maharashtra is set to see a dramatic revival in coming season estimating a production of 73 lt for 2017-18, a rise of 74% from last.
Sugar futures may trade sideways as the supplies have been sufficient in the domestic market. Increase in FRP is encouraging farmers to take sugarcane crop while good sowing progress in the country will keep pressure on the sugar prices.
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