India sugar futures edge up on low output concerns
MUMBAI, Aug 28 (Reuters) - Indian sugar futures edged up in early trade on Thursday due to a likely drop in top producer Maharashtra's output and expectations of higher demand in the festival season, analysts said.
Sugar output in the western state of Maharashtra could slump to as low as 5.2 million tonnes in the crop year beginning October, from 9.1 million tonnes this year, a senior trade official said on Tuesday. [ID:nBOM253296]
At 10:13 a.m., the sugar October futures contract NSMV8 was up 0.62 percent at 1,793 rupees per 100 kg on the National Commodity and Derivatives Exchange. (Reporting by Rajendra Jadhav; Editing by Ramya Venugopal)
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