Moneycontrol
Jun 16, 2017 12:38 PM IST | Source: Moneycontrol.com

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.

Expect Sugar futures to trade sideways: Angel Commodities

Angel Commodities' report on Sugar


Sugar Futures close unchanged 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. According to government data, Sugarcane acreage in the country was at 47.4 lakh ha, higher than 44.8 lakh ha a year ago.


Outlook


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.


For all commodities report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sections
Follow us on
Available On