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Indian sugar drops on expectations of ceiling on millers' stock

Indian sugar futures slumped on Friday on local media reports that New Delhi was considering a ceiling on the stocks that millers could hold to keep prices in check.

The most-active October sugar contract NSMV6 was trading 2.7 percent lower at 3,720 rupees per 100 kg .

India is already taxing exports of the sweetener to maintain domestic supplies and the imposition of a ceiling is likely to further improve availability, pressuring prices.

power by Mcx live News