Sugar June futures traded on a negative note last week on long liquidation, weak demand coupled with rising supplies and lack of fresh export demand. However, short coverings were seen at lower levels and settled 0.95% lower w-o-w.
Prices were on a bullish trend since February on demand from the bulk consumers coupled with lower output this season and forecast of below normal rains by the IMD.
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.Visit Here
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