Indian chamber increases sugar output estimate

MUMBAI, Jan 18 (Reuters): India is likely to produce 26.1 million tonnes of sugar in the 2017/18 marketing season that started on Oct. 1, up nearly 4 per cent from the previous estimate, a trade body said on Thursday, as a good monsoon pushed up cane yields.

This rebound in output to volumes that are near consumption levels could sap demand for imports from the world's biggest consumer of the sweetener, dragging on international prices that are already near their lowest in 3-1/2 months.