Indian sugar futures ease

Indian sugar futures slipped more than 0.3 percent on Tuesday as traders squared off their positions in the absence of fresh initiatives by the government to help tied over a glut. "The market is now fearing no incentives would be announced during the week. This has brought a bearish trend," an analyst at a Mumbai-based brokerage said.
The market has been expecting measures to reschedule the debt of millers, saddled under huge stocks. At 1:45 pm (0815 GMT), the July contract on the National Commodity and Derivatives Exchange was down 0.37 percent at 1,348 rupees ($33.2) per 100 kg. The August contracts fell 0.43 percent to 1,379 rupees.
"The August contract is expected to trade in a narrow range but the July contract may fall sharply as the expiry of the contract on July 20 nears," the analyst said.