Indian sugar falls

Indian sugar futures fell on Monday in anticipation of higher deliveries as millers cleared their old stocks, but delay in crushing of new crop cane in a key state cushioned the drop. At 2:10 pm (0840 GMT), the December contract on the National Commodity and Derivatives Exchange was down 0.39 percent at 1,773 rupees ($35.3) per 100 kg and the January contract fell 0.43 percent to 1,846 rupees.
Millers in the western state of Maharashtra, the country's largest producer, are expected to increase futures deliveries to clear old stocks and this is keeping prices under pressure, traders said. However, a delay in crushing in Uttar Pradesh, the second largest producer, after private millers in the state petitioned a court challenging higher cane prices set by the government limited the fall in prices.