MUMBAI: Indian sugar futures fell on Wednesday to their lowest level in more than a week on ample supplies and as dealers were struggling to sign new export deals despite a plunge in the rupee in the last few weeks. At 0932 GMT, the key October contract was down 0.43 percent at 3,012 rupees ($44.31) per 100 kg on the National Commodity and Derivatives Exchange. It fell to 3,001 rupees earlier in the day, the lowest level since Aug. 28. "The industry was expecting spurt in exports due to sharp fall in the rupee, but in the last one month hardly any big export deal has been signed," said a Mumbai-based dealer. A weak rupee increases the returns of sugar exporters. The rupee hit a record low last week. Spot sugar fell by 10 rupees to 3,030 rupees per 100 kg at the Kolhapur market in Maharashtra state. In spot markets demand is likely to rise in the coming weeks due to festivals like Ganesh Chathurthi, which should increase the demand for the sweetener, dealers said. Sugar output in India, the world's biggest consumer, is expected to exceed the current year's 25 million tonnes in the marketing year beginning October, on the back of good monsoon rains. Maharashtra and Uttar Pradesh, the top two sugar producers in India, have received more than normal rainfall since the beginning of the monsoon on June 1, weather department data showed, boosting prospects of higher production.

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