Gur prices declined by Rs 21.50 to Rs 1,001 for 40 kg in the future trading on Thursday on reduced offtake by speculators, driven by weak spot market sentiment.
Market analysts said heavy stocks position along with fall in demand at physical markets mainly put pressure on gur futures prices. Reports of bumper sugarcane crop this year also further influenced the futures trading of gur, they added.
At the National Commodity and Derivatives Exchange, gur for delivery in September shed Rs 21.50, or 2.10 per cent, to Rs 1,001 for 40 kg, with an open interest of 1,940 lots.
Likewise, gur futures prices for delivery in July moved down by Rs 11, or 1.10 per cent, to Rs 988 for 40 kg, with an open interest of 11,580 lots.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.