Angel Commodities report on SugarSugarSugar Futures closed lower on Tuesday on anticipation of improve availability in physical market as government plan to imp ose export duty of 25% on sugar. Sugar Jul futures closed 0.57 % down to settle at Rs. 3,6 44 per quintal. Earlier, government has imposed stock limits on sugar for traders and wholesalers to avoid black marketing & hoarding to control prices. Global Updates ICE sugar prices eased on Tuesday due to improved weather in top grower Brazil and a stronger dollar. Most recently, a frost has developed in Brazil, the world's largest growing region, and India has agreed to put a 25% tax on sugar exports Warmer and dryer temperatures in Brazil's sugarcane growing areas aided the harvest .Outlook We expect sugar to trade down on selling pressure at higher levels . Moreover , anticipation of better supplies in physical market as government has imposed stock limit on traders may keep prices steady.For all commodities report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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