Sugar falls 0.6% on profit-booking
Rising demand from bulk consumers due to summer- season restricted the gains
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Sugar prices fell by 0.55% to Rs 3,060 per quintal in futures trade today amid profit bookings by speculators.
However, rising demand from bulk consumers due to summer- season and concerns over production in 2013-14 due to lower acreage, restricted the gains.
At the National Commodity and Derivatives Exchange (NCDEX), the June contract fell by Rs 17, or 0.55%, to Rs 3,060 per quintal in 26,870 lots.
The July contract traded lower by Rs 14, or, 0.45%, to Rs 3,110 per quintal in 21,920 lots.
Market analysts attributed the fall in sugar futures to profit-booking by speculators but rising demand from bulk consumers, limited the fall.
However, rising demand from bulk consumers due to summer- season and concerns over production in 2013-14 due to lower acreage, restricted the gains.
At the National Commodity and Derivatives Exchange (NCDEX), the June contract fell by Rs 17, or 0.55%, to Rs 3,060 per quintal in 26,870 lots.
The July contract traded lower by Rs 14, or, 0.45%, to Rs 3,110 per quintal in 21,920 lots.
Market analysts attributed the fall in sugar futures to profit-booking by speculators but rising demand from bulk consumers, limited the fall.
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First Published: May 23 2013 | 3:21 PM IST