Aug 11 2009 3:34PM
NEW DELHI, Aug 11 (Reuters) - India's sugar stocks dropped to 6 million tonnes on July 31 from 7.6 million tonnes a month ago, trade sources told Reuters on Tuesday.
The stocks, enough to meet three months of local demand, are 60 percent lower than 15 million tonnes a year ago as domestic sugar output fell sharply after cane area fell last year, two trade officials, who did not want to be named, said.
Prospects of big imports by India helped New York-traded raw sugar futures climb to a 28-year-high of 22 cents per lb on Monday.
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