India spot sugar prices down on selling pressure.

The prices of sugar fell in the key wholesale markets of the country on Thursday amid increased selling pressure on mills. Prices of medium-grade sugar down rs 5 in the markets of Delhi and Muzaffarnagar, and rs 10 per 100 kg lower in Mumbai and Kolhapur. Millers are quoting lower prices as there is no demand at current price levels despite it being the festival season. Mills also have to adhere to stock limits. The government has imposed stock holding limits on sugar mills for September and October to keep prices in check ahead of major festivals. Sugar mills can hold up to 21 per cent of the total sugar supply of the 201617(October-September) season as of the end of September, and 8 per cent of the supply as of the end of October. Demand for the sweetener has been low since the beginning of the month. Some sugar mills in western Uttar Pradesh are likely to begin cane crushing for 201718 (October-September) on October 10.