Sugar futures rise at NCDEX
Sugar prices rose 0.50 pc in early trade today supported by announcement of comparatively lower free-sale sugar quota for September quarter by the government.
By PTI |
NEW DELHI: Sugar prices rose 0.50 per cent in early trade today on the futures market supported by announcement of comparatively lower free-sale sugar quota for September quarter by the government.
At 1230 hrs on the National Commodity and Derivatives Exchange (NCDEX), sugar prices for most active July contract moved up by 0.50 per cent to Rs 1,471 per quintal
Sugar for far-month August delivery also gained 0.20 per cent to Rs 1,530 per quintal with a business volume of 2,630 tonnes, while September contract rose 0.25 per cent to Rs 1,583 per quintal after moving between Rs 1,583 and Rs 1,590 per quintal.
Traders said allocation of comparatively lower free-sale sugar quota of 30 lakh tonnes, against 36 lakh tons for the same period last year, mainly pushed up the prices.
The government has fixed the domestic sugar sale quota for the July-September quarter at 30 lakh tonnes.
For July, the quota has been fixed at 12 lakh tonnes. Millers are allowed to sell 7,50,000 tonnes of sugar during August and September.
At 1230 hrs on the National Commodity and Derivatives Exchange (NCDEX), sugar prices for most active July contract moved up by 0.50 per cent to Rs 1,471 per quintal
Sugar for far-month August delivery also gained 0.20 per cent to Rs 1,530 per quintal with a business volume of 2,630 tonnes, while September contract rose 0.25 per cent to Rs 1,583 per quintal after moving between Rs 1,583 and Rs 1,590 per quintal.
Traders said allocation of comparatively lower free-sale sugar quota of 30 lakh tonnes, against 36 lakh tons for the same period last year, mainly pushed up the prices.
The government has fixed the domestic sugar sale quota for the July-September quarter at 30 lakh tonnes.
For July, the quota has been fixed at 12 lakh tonnes. Millers are allowed to sell 7,50,000 tonnes of sugar during August and September.
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