The Hindu Business Line : Sugar, castor hit upper circuit

Mumbai, July 15 Sugar futures in NCDEX hit the upper circuit of 4.03 per cent at Rs 1,626 a quintal following reports of drought-like situation due to insufficient monsoon in Maharashtra. Lower acreage under sugarcane cultivation is also expected to bring down the production next season, said an analyst.

Castorseed also hit the upper circuit of 4 per cent at Rs 647 per 20 kg due to export demand and sharp decline in acreage under castor cultivation in the ongoing kharif season.

Maize gained 2 per cent at Rs 998 a quintal on account of short covering followed by fresh buying in expectation of shortage of stock to meet the domestic demand.

Turmeric up

Turmeric prices ended on positive note at Rs 4,748 a quintal, up 2.09 per cent on the back firm spot market.

In MCX, cardamom rose 2.15 per cent at Rs 642 for 20 kg on robust export demand and lack of rainfall in major growing areas of Kerala. Mentha oil gained 1.73 per cent to Rs 753 a kg on strong export demand and firm spot price.

MCX recorded a turnover of Rs 10,006 crore up to 5 pm, while it was Rs 2,784 crore in NCDEX on Tuesday.

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Sugar, castor hit upper circuit