Sugar prices to trade sideways: Angel Commodities

Angel Commodities' report on Sugar

Sugar Futures closed unchanged on news that the production in the country will jump 24% in 2017/18 to to around 25 mt. The country's sugar output in the ongoing 2016 - 17 marketing year (October - September) is estimated to be lower at 20.2 mt because of poor rai ns. India is the world's second biggest sugar producer. Raw sugar futures on ICE fell to their lowest in nearly six weeks on Tuesday, pressured by a forecast for much - needed rain in top producer Brazil and the expectation for a lack of nearby demand as the October contract nears expiry.

Outlook

Sugar futures may trade sideways on good festive demand, but forecast of higher production and good availability of sugar with the mills may keep the prices steady.

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.