Indian sugar futures fall

Indian sugar futures on Tuesday fell to their lowest level in more than a month on subdued demand amid surplus supplies and as the government decided not to raise import duty on the sweetener at least for the next two months.
The key July contract on the National Commodity and Derivatives Exchange was down 0.27 percent at 3,003 rupees ($50.24)per 100 kg at 0908 GMT, after hitting a low of 2,993 rupees earlier in the day, the lowest level since May 20.India's farm minister had demanded an increase in duty on the sweetener to protect local mills from cheaper imports, but the finance ministry last week declined to raise duty until September, traders said.