Raw sugar futures in New York fluctuated as poor monsoon rains in India, the second-largest grower, eased a recent bearish sentiment that pushed prices down in the two previous sessions.
India has received below-average rainfall during the current monsoon season, according to data from the Indian Meteorological Department.
That’s potentially harming the development of sugar-cane crops that will be harvested later this year.
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Expect positive for sugar stocks – Renuka Sugar, Balrampur Chini, Praj Industries
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