Sugar recovers 0.9% on likely low production
However, sluggish demand from bulk consumers limited gains
 "Sugar recovers 0.9% on likely low production")
Sugar prices recovered by 0.85% to Rs 3,095 per quintal in futures trading today as speculators created fresh positions amid a likely drop in output.
However, sluggish demand from bulk consumers, limited the gains.
At the National Commodity and Derivatives Exchange (NCDEX), the June contract traded Rs 26, or 0.85%, higher at Rs 3,095 per quintal in 5,390 lots.
Market analysts attributed the recovery in sugar prices at futures to fresh positions created by speuclators amid a likely fall in production next year and expectations of a rise in import duty but subdued demand from bulk consumers,limited the gains.
However, sluggish demand from bulk consumers, limited the gains.
At the National Commodity and Derivatives Exchange (NCDEX), the June contract traded Rs 26, or 0.85%, higher at Rs 3,095 per quintal in 5,390 lots.
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The July contract recovered by Rs 20, or 0.65%, to Rs 3,120 per quintal in 23,780 lots.
Market analysts attributed the recovery in sugar prices at futures to fresh positions created by speuclators amid a likely fall in production next year and expectations of a rise in import duty but subdued demand from bulk consumers,limited the gains.