India Sugar prices down in key spot markets on low demand.

Prices of sugar fell in the key spot markets as mills lowered their prices to stir demand, owing to fading purchases at higher prices. Stockists have also replenished their stocks in the beginning of the month. Likely higher output in 2017-18 sugar season (Oct-Sep), backed by good monsoon rains has also weighed on the sentiments of sugar. In Delhi, sugar was down 10 rupees from previous close, while in Mumbai, the commodity was sold down 5 rupees. India sugar production is likely to rise 16-20% to around 23.5-24.5 million tonne in 2017-18 (Oct-Sep).