India sugar prices up in key spot markets due to festival demand.

Spot prices of sugar rose in the key wholesale markets of the country because of higher demand. Prices have also risen as mills in Maharashtra are withholding stocks. Demand is also higher as bulk and retail buyers usually replenish pipelines in the first few days of the month. The outlook on sugar prices is, however, bearish. The government may consider more duty-free sugar imports and bring back stock limits on sugar mills as well if prices continue to rise.