Commodities

Sugar futures hit new high Rs 3,545 per quintal

| | Updated on: Aug 03, 2012
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Some of the agricultural commodities that are closely watched by the market regulator Forward Markets Commission fell on Thursday.

A few commodities like chana, soya, turmeric and pepper fell sharply, while sugar and chilli gained.

Sugar futures hit a new high of Rs 3,545 per quintal on strong buying support. Sugarcane output this year is expected to be lower due to poor monsoon in the cane growing areas of Maharashtra and Uttar Pradesh.

Forecast by the weather department that the south-west monsoon may remain weak during the remaining months added to the bullish sentiment in sugar futures.

However, area under sugarcane was up 5.28 million hectares against 5.08 million hectares recorded last year.

Published on March 12, 2018

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