Indian sugar futures up

Indian sugar futures rose on Friday after losing ground in early trade, as sowing data to be released later in the day was expected to show a sharp fall in the area under sugarcane. Poor rainfall in the western state of Maharashtra, a leading sugar producer, and better returns for alternative crops like oilseeds have combined to push cane planting lower, traders said.
At 2:58 pm (0928 GMT), the July contract on the National Commodity and Derivatives Exchange was up 1.57 percent at 1,550 rupees ($35.7) per 100 kg. August contract had risen 1.06 percent to 1,622 rupees. Prices in the spot market in Maharashtra edged up 0.32 percent to 1608.25 rupees.