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Last Updated : Mar 03, 2017 10:46 AM IST | Source: Moneycontrol.com

Expect Sugar prices may trade sideways: Angel Commodities

According to Angel Commodities, We expect sugar prices may trade sideways on anticipation of higher sugar demand but mills are keeping supplies adequate as they are not keen on the idea to import sugar in the country.



Angel Commodities' report on Sugar


Sugar Futures corrected a little on Thursday as government asked sugar mills to ensure adequate supplies. There are reports of high domestic demand for sugar by ICRA. Meanwhile, ISMA reports 15% drop in sugar output till 15-Feb-17 compared to last year production. Sugar mills in the country have produced 146.72 lt of sugar this season, as compared to 173.34 lt produced as on 15th Feb 2016.


Outlook


We expect sugar prices may trade sideways on anticipation of higher sugar demand but mills are keeping supplies adequate as they are not keen on the idea to import sugar in the country. On the other hand, the market participants are waiting for any government policy change regarding stock limit or import tax exemption, if the prices go beyond a certain limit.


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First Published on Mar 3, 2017 10:46 am
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