Sugar prices down in north on higher output view

Prices of sugar fell in the key wholesale markets of north India today due to anticipation of higher production than previously estimated. There is going to be a sizeable jump in production of sugar, naturally, prices are going to be hit and bearishness will continue. Market experts have scaled up their output estimates for the current season to around 29.5 mln tn from 25.0-25.5 mln tn forecast earlier following significant improvement in cane yields. All India Sugar Trade association, too, raised its output estimate to 29 mln tn from 26.4 mln tn forecast earlier.