Sugar futures are trading lower this week on expectation of sufficient supplies in the country as crushing is commenced in all the sugar growing states including Maharashtra and Gujarat. As per Indian Mills Association, the carryover stock as on 1st October 2016 is pegged at 77 lakh tons and production is estimated at 234 lakh tons in 2016-17 sugar season. Therefore, total sugar available in the country during 2016-17 sugar season would be around 311 lakh tons against the estimated consumption of 255 lakh tons.
Information source: www.skymetweather.com