Sugar futures up at NCDEX on lower free-sale quota
Sugar prices rose further in early trade on the futures market after the government announced lower free-sale quota for September quarter.
By PTI |
NEW DELHI: At 1215 hrs on the National Commodity and Derivatives Exchange (NCDEX), sugar prices for July delivery contract moved up by 0.50 per cent to Rs 1,471 per quintal.
August contract also gained 0.40 per cent to Rs 1,527 per quintal with a business volume of 5,010 tonnes, while September delivery contract rose 0.05 per cent to Rs 1,574 per quintal after moving between Rs 1,570 and Rs 1,582 per quintal.
Traders said allocation of comparatively lower quota of 30 lakh tonnes of free-sale sugar quota for July-September quarter by the government mainly influenced the prices.
The government has fixed the domestic sugar sale quota for the July-September quarter to 30 lakh tonnes. For the July month, the quota has been fixed at 12 lakh tonnes.
Millers are allowed to sell 750,000 tonnes of sugar during August and September.
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