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UPDATE 1-Indian sugar end down on crushing in Uttar Pradesh

Tue Dec 2, 2008 6:32pm IST
 
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MUMBAI, Dec 2 (Reuters) - Indian sugar futures ended down on Tuesday on expectations that a pick-up in cane crushing in a key producing state may see millers increase deliveries to exchange warehouses to clear old stocks.

Crushing has picked up in most parts of the northern state of Uttar Pradesh, India's second-largest producing state.

"Large-scale crushing has started in west and central regions of the state and within a week it should pick up in rest of the state," a senior official of the U.P. Sugar Mills Association said.

Production in the season ending September 2009 would put pressure on the existing stocks, and millers may have to sell inferior-quality old stocks to make space, analysts said.

Deliveries at exchange warehouses in the near-month contract expiring on Dec. 19 may be much higher than the roughly 13,000 tonnes delivered last month, analysts said.

Following are the closing prices of sugar futures in rupees per 100 kg on the National Commodity and Derivatives Exchange <0#NSM:>

Contract Reuters Code Closing Price Change in %

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