**[investwise]** Sugar: Down 43 Per Cent And Still Falling!

 

Sugar-Mills In UP Will See RED in The Sugar 10-11 Season The weeds of self destruction have been planted by the mill owners in the Sugar year 09-10 by accepting cane supplies at Rs 260 per quintal. This means, no mill can produce sugar below Rs 30 a kg.   With better plantation, higher expected price and bumper cane crop in Brazil, while wholesale price of Sugar will continue to drop for most of CY10, the farmers in the Northern State of UP will not agree to Sell Cane below the Sugar year 09-10 price. Balrampur, Dhampur and Bajaj Hindustan have yet to see the worst of times, and their stocks can fall even more significantly on the bourses.   Sugar prices are falling after reports indicate Brazil is harvesting a plentiful crop that could boost global supplies.   Tuesday's decline is the latest setback for sugar futures, which have retreated about 43 percent since it hitting a 29-year high in early February.   Analysts say the reversal is occurring as traders pull out of the market because of growing expectations that global supplies will improve on higher production.   Other commodities were mixed as the dollar rose against most other major currencies. Gold and most energy prices rose while grains fell.   Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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