Sugar prices in India on the NCDEX Kolhapur market have plummeted faster than those on the London No 5, the global reference price, front-month futures contract, on the back of a bumper crop in India, with sugar production estimated at 31 million mttq for the 2017-18 (October-September) season, up nearly 53% year on year. From the beginning of the season in October 2017, prices on the NCDEX Kolhapur market have sunk by almost 25% to $419/mt Monday. Whereas, the price on London No 5 front-month futures has fallen by close to 10% from the beginning of the season to $329.20/mt.