India allows duty free import of sugar - sugar 11 futures a real buy in commodity exchanges
Neal Zaveri
Aug. 1, 2009

It may be a good bet to but sugar 11 futures and options in commodity exchanges as India allows duty free sugar import to avoid massive shaortages during Diwali and Puja festivals.

March Sugar 11 futures are doing slightly better than the October contracts.

Experts feel that allowing private traders to import refined sugar will help them tap the new Brazilian sugar that is to hit international markets soon. However, the quantitative restriction of 1 million tonne remains.

Sugar prices in India had started moving up from around August-September 2008 on expectations of a more than 10-million-tonne drop in output in 2008-09 and rising demand. This prompted the government to take a series of measures to augment supplies and cool prices.

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