Sugar futures traded on a negative note last week on weak demand coupled with rising supplies and lack of fresh export demand kept prices under check and settled 0.63% higher. ISMA seeks a hike in import duty from 15% to 40% to protect the domestic sugar industry.
According to a circular released by NCDEX, some changes have been made in the contract specifications in Oct’14 expiry futures and thereafter. Kindly refer the circular for further details.
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.
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