India sugar up in Maharashtra on festival demand; down in north India.

Spot prices of sugar rose in the key wholesale markets of Maharashtra due to higher demand. The expectations of a bullish trend are supporting prices in Maharashtra right now due to supply concerns. The carry forward stock is likely to be lower. Prices of the sweetener in north India, however, were down as demand fell at higher price levels. Prices rose yesterday amid festival demand. Now, there is no buying support at higher level. Overall, traders have a bearish outlook on sugar prices for the coming days. The government may consider more duty-free sugar imports and re-impose stock limits on sugar mills as well if prices continue to rise.