Capital stroke NCDEX Update : SUGAR 20 MAY 2014

Sugar June futures traded on a negative note on Monday on weak demand coupled with rising supplies and lack of fresh export demand. However, short coverings were seen towards the end of the session at lower levels and settled 0.03% lower.The government, in its notification, has cut the subsidies on raw sugar export from Rs. Rs. 3300/tn to Rs. 2777/tn for the months of April and May ’14.

ISMA has reported Sugar production between Oct -Apr at 23.75 mn tn, down 3.45 per cent against 24.6 mt during the same period a year ago.

India’s Oct 1-Apr 15 sugar exports were reported at 1.45 mn tn, lower than target of 2 mn tn. The mills have exported 800,000 tonnes of raw sugar and 650,000 tonnes of white sugar since October ‘13.

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