Sugar prices may trade sideways owing to lacklustre trades at the domestic mandis. Expectations that govt may consider partial decontrol of Sugar industry may keep sentiments firm in the short term.
Decision with respect to notification on exports is still yet to come. This may resist prices from trading higher.
In the long term prices are expected to take cues from the Sugar output estimates in the domestic market, change in government policies with respect to exports and International Sugar prices, which would be influenced by the supplies from Brazil, Thailand and India and demand from China.
Sugar Mar NCDEX Futures R s . / qtl support: 2870-2876 resistance:2910-2922
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