Import impact small on sugar prices.

Sugar prices are expected to remain firm in sugar season 2017-18. Despite the govt decision to allow duty free import of raw sugar up to 0.5 million tonnes, lower inventory because of a fall in production is expected to keep prices rangebound till June 12, 2017. ISMA has lowered its production estimate to 203 lakh tonnes from 213 lakh tonnes as sugarcane yield in Maharashtra, Karnataka and Andhra Pradesh in January and February was lower than expected.