 "Sugar down 0.4% on ample stocks")
Sugar prices eased by 0.37% to Rs 3,263 per quintal in futures trade today, dragged down by ample stocks at the spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May declined by Rs 12, or 0.37% to Rs 3,263 per quintal with an open interest of 29,740 lots.
Likewise, the sweetener for delivery in March shed Rs 7, or 0.22% to Rs 3,182 per quintal in 98,940 lots.
They said reports of higher output also weighed on sugar prices.
Meanwhile, the country's sugar output rose by 6.5% to 7.98 million tonnes in the first three months of the 2015-16 season while exports were 3,00,000 tonnes in the same period, industry body ISMA said.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May declined by Rs 12, or 0.37% to Rs 3,263 per quintal with an open interest of 29,740 lots.
Likewise, the sweetener for delivery in March shed Rs 7, or 0.22% to Rs 3,182 per quintal in 98,940 lots.
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Market analysts said offloading of positions by participants triggered by higher supplies from mills, mainly kept pressure on sugar prices at the futures trade.
They said reports of higher output also weighed on sugar prices.
Meanwhile, the country's sugar output rose by 6.5% to 7.98 million tonnes in the first three months of the 2015-16 season while exports were 3,00,000 tonnes in the same period, industry body ISMA said.
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