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Sugar prices in the local market have risen more than 10 percent in a month on an expected drop in the production after back-to-back drought ravaged cane crop in the top producing western state of Maharashtra.
India's sugar production in 2016/17 is likely to fall to 22 million tonnes, down 4.3 percent from an earlier estimate, as mills in Maharashtra are closing early due to a cane shortage, industry officials told Reuters.