Indian sugar rises as govt defers easier imports

Indian sugar rises as govt defers easier imports
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First Published: Fri, Jan 30 2009. 10 44 AM IST
Updated: Fri, Jan 30 2009. 10 44 AM IST
Mumbai: India sugar futures edged up on Friday morning as the government deferred a widely expected decision on easing imports of raw sugar to help make up for a shortfall in output and contain prices, analysts said.
At 10:36 am, the February futures contract on the National Commodity and Derivatives Exchange was at Rs2,065 per 100 kg, up 0.49%.
However, gains were capped by the market talk millers were signing raw sugar import deals in anticipation of a change in import policy, they said.
Government and trade estimates suggest sugar production will fall to 18 million tonnes in 2008/09, from 26.3 million tonnes a year ago.
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First Published: Fri, Jan 30 2009. 10 44 AM IST