| Date: |
29-03-2011 |
| Subject: |
Sugar Ends Down On Ample Supply |
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Sugar prices may trade sideways in the next 2-3 day as sufficient stocks are capping the gains at higher levels. However in the coming week Sugar prices may gain sharply as the government has allowed exports under OGL to the extent of 5 lakh tonnes. Also increase in stock limits may provide further support to the prices.
Prices may gain by Rs. 100-150 per qtl in the coming weeks. In the medium term prices would depend on the permissible Sugar exports by India. Prices are expected to trade in the range of Rs. 2750 Rs. 2950 per qtl levels in the medium term.
Source : indiainfoline.com
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