Sugar tumbles on ample stocks

Spot prices as well as futures of sugar ended 2.31% and 2.64% lower respectively w-w as domestic markets are flooded with huge stocks of levy Sugar and expectation of higher non- levy quota for the month of April 2011. According to government official 1.7 million tonnes of nonlevy sugar for the month of April has been made available, little changed from 1.684 million tonnes released in March.

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