Sugar futures fall after Cabinet extends cap on stocks by 6 months

Indian sugar futures fell on Wednesday after the cabinet extended by six months a limit on the quantity of sugar that mills can hold, in a move to contain high local prices. May sugar was down 0.2 per cent at 3,761 rupees ($58.

26) per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX) as of 1240 GMT. The price of the contract had breached the 4000-rupee level to reach a record high in February. India, the world's biggest sugar consumer, earlier this month allowed imports of 500,000 tonnes of duty-free raw.

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