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A road sign stands next to the Bombay Stock Exchange building (R), August 3, 2005. REUTERS/Arko Datta/Files

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India sugar opens up on low cane area, export hopes

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MUMBAI, July 15 | Tue Jul 15, 2008 10:46am IST

MUMBAI, July 15 (Reuters) - Indian sugar futures opened up on Tuesday as low cane acreage and less rainfall in parts of Maharashtra, a leading producer, may lower sugar output more than expected, analysts said.

The prices are supported by fresh export orders of 60,000 tonnes of raw sugar from Dubai's Al Khaleej Sugar Co for July/August 2008 shipment. See[nL14707983]

At 10:32 a.m., the August sugar futures contract NSMQ8 on the National Commodity and Derivatives Exchange rose 1.22 percent at 1,582 rupees per 100 kg.

Area under sugarcane cultivation up to July 11 fell more than 18 percent, government said late on Friday. (Reporting by Abhishek Shanker; editing by Sunil Nair)

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