Sugar futures fall on profit-taking

Weak trend at spot markets led to the fall in sugar future prices.

Written by Agencies | New Delhi | Published:February 22, 2012 11:48 am

Sugar futures fell by Rs 13 to Rs 2,930 per quintal today due to lower demand and higher supplies in spot markets.

At the National Commodity and Derivatives Exchange,sugar for delivery in May fell by Rs 13,or 0.44 per cent,to Rs 2,930 per quintal,with an open interest of 7,360 lots.

Similarly,the sweetener for delivery in march shed Re 1,or 0.03 per cent,to Rs 2,862 per quintal,with an open interest of 37,940 lots.

Analysts said fall in sugar futures prices was due to a weak trend at spot markets on sluggish demand against higher supplies.

Meanwhile,at Kolhapur spot market,in largest producing state,Maharashtra,sugar fell by Rs 26 to Rs 2,800 per quintal in yesterday’s trade.

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