MUMBAI, March 12 (Reuters) - Indian sugar futures edged up on Thursday on a likely rise in summer demand and on expectation government permission for duty-free import of white sugar may not lead to overseas purchases of the sweetener, analysts said.
Sugar traders in India had been speculating in last few days that the government may allow duty-free imports of white sugar, a factor that was weighing on sugar prices.
But analysts now say that with supplies from the crop's harvest still available in the market and the rupee's weakness making imports costly, traders will be in no hurry to put in orders, even if the government removes the duty. See [ID:nBOM417156]
At 10:51 a.m., the April contract NSMJ9 on the National Commodity and Derivatives Exchange was up 0.19 percent at 2,116 rupees per 100 kg.
India's farm minister said last month the country's output may be about 16.5 million tonnes, lower than earlier expectations of about 18 million tonnes and much below last year's estimated output of about 26.5 million tonnes.
Trade estimates place output at 16 million tonnes.
Source : REUTERS INDIA