Sugar futures ease on higher supply hopes

Indian sugar futures eased on Wednesday in anticipation of higher supplies as crushing in main producing regions begin next week.
At 3:28 p.m., the November contract on the National Commodity and Derivatives Exchange was down 0.06 percent at 1,735 rupees. The December contract fell 0.34 percent to 1,767 rupees.
Veeresh Hiremath, an analyst with Karvy Comtrade Ltd, said mills in the western state of Maharashtra and northern Uttar Pradesh, the country's top two sugar producers, were expected to reach large-scale crushing by mid-November.
Crushing of cane for the crop year that began on Oct. 1 have already begun in the southern states of Karnataka and Andhra Pradesh, he said.
However, spot prices in Maharashtra rose 0.26 percent to 1,727 rupees.