Back-to-back drought years threaten output
Prices fell four per cent on NCDEX after report on stock limits
Prices are rising on expectation of lower output, govt's order of mandatory export of 3.2 MT in 2015-16 marketing year (Oct-Sept)
Due to lower demand in the spot market mainly kept pressure on sugar prices at futures trade.
Production in Maharashtra, the country's leading sugar producing state, fell to 8.36 MT of sugar till April 15 of this marketing year from 9.96 MT in the year-ago
Commodity for delivery in May traded higher by Rs 25, or 0.71%
Oudh Sugar, Uttam Sugar, Kesar Enterprises, Upper Ganges, Dwarikesh Sugar and Simbhaoli Sugar down over 5% each.
Traders don't foresee any imminent action by authorities as revised forecasts would still exceed domestic consumption
Analysts attributed rise in sugar futures to rising demand from retailers as well as bulk consumers in spot market
Simbhaoli, Oudh Sugar, Uttam Sugar, Parrys Sugar, Mawana Sugars & Dwarikesh Sugar frozen at upper circuit.
Exports are likely see an over 80% jump to 20 lakh tonnes in 2015-16, even as the production is set to drop by 9%
Production likely to fall by 9% from last year's 28.3 mn tonnes
Sugar mills have so far contracted 1.4 million tonnes for exports.
Bannari Amman, Dalmia Bharat Sugar, Dwarikesh Sugar, Oudh Sugar and Riga Sugar hit 52-week highs on BSE
Domestic price up 4% in wholesale markets; Maharashtra govt may offer export sops
Dwarikesh Sugar, Dalmia Bharat Sugar, Oudh Sugar and Uttam Sugar rallied more than 9% each on the BSE.
Maharashtra's decision to exempt cane purchase tax, higher global prices made overseas sales attractive
Dwarikesh Sugar, DCM Shriram, Dhampur Sugar, Sakthi Sugars and Uttam Sugar have rallied over 10% each
The debt burden of the sugar sector has risen four times from Rs 11,000 crore in March 2008 to more than Rs 40,300 crore in March 2015
Flows of Indian white sugar to Myanmar, a gateway for smuggling into China, are slowing down, while Brazilian sugar becomes more competitive