Sugar Futures gain substantially on Wednesday on anticipation of sugar deficit in the country in the current sugar season. Moreover, the demand for sugar from the stockists is expected to increase as cash crunch situation is easing. The most-active December sugar contract closed 1.68% higher to settle at 3,456 per quintal. During 2016-17 SS, Maharashtra mills delayed their starting so as to get the cane matured further to get better sugar recovery from standing cane. These mills are now started crushing from 5th November, 2016. Similarly, Gujarat mills have also started the crushing. Moreover, government is looking to enhance domestic supplies by reduce import duty if the prices domestic market increase. Central government is exploring the option of lowering the 40% import duty on the sweetener in its raw form.
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