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Sugar prices to trade down today: Angel Commodities

According to Angel Commodities ,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.

June 15, 2016 / 11:51 AM IST

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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