Sugar Futures May Trade Sideways To Higher

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Nifty Trading Tips
Sugar Futures traded lower on Thursday tracking weak international prices. The food ministry expects sugar output in 2017-18 (Oct-Sep) at 235-240 lakh tonnes (lt), much below 251 lt projected by the Indian Sugar Mills Association (ISMA). As per the officials, Sugar output in Uttar Pradesh may rise to about 92-93 lt in 2017-18, up from 88 lt produced this year, while in Maharashtra, sugar production may rise to 73 lt, up from 42 lt produced in 2016-17.

Outlook

Sugar futures may trade sideways to higher on expectation of higher physical demand. However, sufficient supplies in the domestic market may keep the prices under control. Production is expected to be higher by 25% in 2017/18.

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