Commodities

Sugar extend losses

PTI New Delhi | Updated on January 18, 2011 Published on January 18, 2011

Continued fall in sugar futures is driven by subdued demand from bulk consumers and surplus stocks at the spot markets and pick up in cane crushing at key producing states. -- Akhilesh Kumar   -  The Hindu

Amid weak demand and comfortable stocks in the spot market, sugar continued its slide to trade one per cent lower at Rs 2,880 a quintal in futures trade on Tuesday.

At the Multi Commodity Exchange (MCX), sugar for delivery in current-month January fell by Rs 29 or one per cent to Rs 2,880 a quintal, with a turnover of one lot.

In similar fashion, sugar for delivery in February also fell by Rs 15 or 0.50 per cent to Rs 2,984 a quintal, with a turnover of one lot.

Market analysts said continued fall in sugar futures is driven by subdued demand from bulk consumers and surplus stocks at the spot markets and pick up in cane crushing at key producing states.

Besides, increased quota for January released by the Government also kept pressure on the sugar futures prices here, they said.

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Published on January 18, 2011
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