Comments
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.
Comments
COMMENT NOW
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.