Commodities

Sugar futures decline on supply pressure

PTI New Delhi | Updated on March 11, 2011

Sugar prices in futures trade fell by 1.25 per cent to Rs 2,928 a quintal today, as speculators reduced their positions amid supply pressure in the spot market.

At the Multi Commodity Exchange (MCX), sugar for delivery in June fell by Rs 37 or 1.25 per cent to Rs 2,928 a quintal, with a business turnover of 260 lots.

Similarly, sugar for delivery in March fell by Rs 5 or 0.18 per cent to Rs 2,725 a quintal, with a business volume of 27,850 lots.

Market analysts attributed the fall in prices to higher supply of non-levy sugar in the market and delay in summer in North India.

Expectations that demand from cold drink makers and other bulk consumers may pick up, however, restricted the losses, they added.

Published on March 11, 2011

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