Commodities

Sugar down on low demand, adequate stocks

PTI New Delhi | Updated on April 07, 2011

Analysts attributed the fall in sugar prices to a weak trend at the spot markets due to subdued demand from bulk consumers. PHOTO P.V. Sivakumar   -  Business Line

Sugar futures prices fell by 0.32 per cent to Rs 2,803 a quintal today amid weak demand and adequate stocks position at spot markets.

At the National Commodity and Derivatives Exchange, sugar for delivery in June lost Rs 9 or 0.32 per cent, to Rs 2,803 a quintal, with an open interest of 5,590 lots.

Similarly, sugar for delivery in April shed Rs 8 or 0.30 per cent to Rs 2,642 a quintal, with a business volume of 37,240 lots.

Analysts attributed the fall in prices to a weak trend at the spot markets due to subdued demand from bulk consumers.

Additionally, adequate stocks following higher free-sale quota for April released by the Government also put pressure on prices, they added.

The Government allocated 19.07 lakh tonnes of sugar for sale in the open market as well as to ration shops during this month, marginally higher than the last month’s 18.86 lakh tonnes.

Published on April 07, 2011

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