Indian sugar futures extended losses to hit a six-week low in choppy trade on Wednesday as weak demand and higher supplies outweighed short-covering by traders after a sharp fall in the previous few sessions. At 1056 GMT, the key January contract on the National Commodity and Derivatives Exchange (NCDEX) was trading down 0.06 percent at 3,287 rupees ($60.23) per 100 kg after hitting a low of 3,275 rupees, lowest level in six weeks, earlier in the day.

Spot sugar fell 34 rupees to 3,376 rupees per 100 kg at Kolhapur in top-producing Maharashtra state. Wholesale dealers are expecting prices to recover with the expected upward revision in import duty on sugar as cheaper supplies are coming, traders said.

Copyright Reuters, 2012