Gur futures down on weak spot markets cue

NEW DELHI: Gur prices declined by Rs 19 to Rs 1,182 per 40 kg in futures trading today as traders preferred to off-load positions tracking lower spot markets sentiment.

Higher sugar-cane production this year makes raw materials easily available, therefore prices remained under pressure here in future trading, traders said.

Sluggish demand and heavy stocks position in physical markets too put pressure on gur prices, they added.

At the National Commodity and Derivatives Exchange, gur prices for July delivery declined by Rs 19, or 1.58 per cent, to Rs 1,182 per 40 kg, with an open interest of 12,690 lots.

For delivery in September, the prices slipped by Rs 15.50, or 1.26 per cent, to Rs 1,215.50 per 40 kg, with an open interest of 2,990 lots.