Commodities

Sugar futures down on higher supply

PTI New Delhi | Updated on February 16, 2011

Sugar futures dipped by 0.37 per cent weighed down by higher supplies in the market but ongoing marriage season demand restricted losses.

At the National Commodity and Derivatives Exchange, sugar for delivery in February contract fell marginally by Rs 10 or 0.37 per cent to Rs 2,685 a quintal, with an open interest of 12,610 lots.

The sugar for delivery in March contract also shed Rs 3 or 0.22 per cent to Rs 2,672 a quintal, with a business turnover of 9,740 lots.

Analysts said adequate stocks in the spot markets following higher supplies mainly kept pressure on the futures here but marriage season demand, cushioned the losses.

Published on February 16, 2011

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