Comments
Sugar traded 0.76 per cent higher at the futures trade today on speculative activity triggered by low supply by millers in anticipation of better prices.
At the National Commodity and Derivatives Exchange, sugar for delivery in April traded higher by Rs 21 or 0.76 per cent at Rs 2,783 per quintal with an open interest of 33,660 lots. It had ended 0.5 per cent lower at Rs 2,762 per quintal on Monday.
Similarly, May contract gained Rs 18 or 0.64 per cent to Rs 2,848 per quintal with a business turnover of 9,020 lots.
Analysts attributed the recovery in sugar prices to restricted supplies by millers, who held stocks in anticipation of better prices in the coming days as demand from bulk consumers is likely to pick up.
Besides, hopes that the Government may allow export of sugar also helped the uptrend in futures prices, they added.
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.