Mumbai: Sugar futures in NCDEX touched the upper circuit of 4.03 per cent at Rs 1,626 a quintal following reports of drought-like situation due to insufficient monsoon in Maharashtra. Lower acreage under sugarcane cultivation is also hoped to bring down the output next season. Castorseed also touched the upper circuit of 4 per cent at Rs 647 per 20 kg due to export demand and sharp fall in acreage under castor cultivation in the ongoing kharif season. Maize earned 2 per cent at Rs 998 a quintal on account of short covering followed by fresh buying in expectation of shortage of stock to meet the domestic demand. Turmeric prices closed on positive note at Rs 4,748 a quintal, up 2.09 per cent on the back firm spot market. In MCX, cardamom increased 2.15 per cent at Rs 642 for 20 kg on robust export demand and lack of rainfall in major growing areas of Kerala. Mentha oil increased 1.73 per cent to Rs 753 a kg on strong export demand and firm spot price.
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Pakistan Sugar Market In trouble. Market touche the Highest Rates of the season.3400
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