Mumbai, Dec. 30 -- Global Sugar futures are witnessing modest gains but the upside appears capped amid hopes of elevated output in major producing countries. The Raw Sugar futures scaled up around two-month high above 15.30 cents per pound in last session amid tepid cues from equities and marginal weakness in the US dollar. Sugar prices are down around 20% this year. The India Sugar Mill Association (ISMA) has raised its 2025/26 India sugar production estimate to 31 million metric tonnes or MMT from an earlier forecast of 30 MMT, up 18.8% y/y. The ISMA also cut its estimate for sugar used for ethanol production in India to 3.4 MMT from a July forecast of 5 MMT, which may allow India to boost its sugar exports. Domestic sugar production from...