Sugar futures fall 0.44 percent on higher supply
Similarly, the sweetner for delivery in July contracts shed Rs 6 or 0.23 per cent to Rs 2,590 per quintal in 24,730 lots.
By PTI | Updated:
NEW DELHI: Sugar prices were down by 0.44 per cent to Rs 2,476 per quintal in futures trade today as speculators trimmed positions amid adequate stocks position in spot markets on persistent supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month declined by Rs 11 or 0.44 per cent to Rs 2,476 per quintal with an open interest of 34,280 lots.
Similarly, the sweetner for delivery in July contracts shed Rs 6 or 0.23 per cent to Rs 2,590 per quintal in 24,730 lots.
Analysts said offloading of positions by speculators, triggered by higher supplies in the physical markets from mills, mainly led to decline in sugar prices at futures trade.
They said, however, scattered demand from bulk consumers due to summer season, restricted the fall.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month declined by Rs 11 or 0.44 per cent to Rs 2,476 per quintal with an open interest of 34,280 lots.
Similarly, the sweetner for delivery in July contracts shed Rs 6 or 0.23 per cent to Rs 2,590 per quintal in 24,730 lots.
Analysts said offloading of positions by speculators, triggered by higher supplies in the physical markets from mills, mainly led to decline in sugar prices at futures trade.
They said, however, scattered demand from bulk consumers due to summer season, restricted the fall.
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