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Raw Sugar Falls Sharply On Exports Potential From India

14 Sep 2018 6:14 pm
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MUMBAI (Commoditiescontrol) - Raw sugar futures went down sharply on Friday, retreating from the prior session's two-month high, with the potential for exports from India and the weakness of Brazil's currency helping to halt the run-up in prices.

The most-active October raw sugar was down 2.3%, at 11.50 cents per lb . The front month had risen to a two-month high of 11.80 cents per lb on Thursday. Similarly, October white sugar was down $1.30, or 0.4 percent, at $331.30 a tonne.


Dealers said the fall may have been driven by talk that India may soon agree to subsidize exports as it deals with a supply glut following a rise in production.


Renewed weakness in Brazil's real currency has also helped to halt the recent rally, making prices more attractive in local currency terms in the world's top exporter.


(By Commoditiescontrol Bureau; +91-22-40015533)


       
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