India sugar futures seen up on spot demand
MUMBAI, Dec 2 (Reuters) - India sugar futures are seen up on Tuesday as demand from stockists is likely to remain firm on improved demand for the sweetener at the begining of the month, analysts said.
January futures NSMF9 on the National Commodity and Derivatives Exchange ended up 0.65 percent at 1,846 rupees per 100 kg on Monday.
However, crushing has started in west and cental Uttar Pradesh, the country's second largest producer, and very soon the eastern part will also start crushing. This will put pressure on the sugar stocks and may limit the gains, analysts said.
(Reporting by Abhishek Shanker; editing by Sunil Nair)
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