Indian sugar futures ease on subdued demand

Indian sugar futures eased on Friday on sluggish demand from bulk consumers and higher supplies, though buying at lower levels limited the downside. The key December contract was down 0.21 percent at 2,844 rupees ($46.28) per 100 kg on the National Commodity and Derivatives Exchange at 0852 GMT. It fell to 2,841 rupees in the previous session, its lowest since June 13, 2012.
"Bulk consumers have almost covered their requirement for festival. They will be buying less in coming weeks," said an official with a co-operative sugar miller based in Satara, Maharashtra. "Cold drink and ice cream makers would also trim buying as we are heading towards winter season." Indians have started celebrating the Hindu festival of Diwali from Friday. Sugar demand from bulk consumers usually rises ahead of Diwali.