Indian sugar futures rose on Thursday, a day after the government said it was time to decide on lifting a ban on sugar exports. Wheat and soyaoil were mixed. The December sugar futures on the National Commodity and Derivatives Exchange were up 5 rupees at 1,765 rupees per 100 kg, while January futures were higher by 3 rupees at 1,715.
Sugar rose in anticipation of removal of the export ban, imposed in July to rein in rising prices caused by tight supplies and was due to last till the end of the financial year in March. Farm Minister Shared Pawar said on Wednesday it was time to review the ban while an industry official said the government might take a decision between December 18 and 21.
Wheat contracts were mixed but traders said they could in the coming days as shortages continue in domestic and overseas markets an analyst with a Mumbai-based brokerage said. The December wheat contract on the NCDEX was down 1 rupee at 1,054 per 100 kg, while the January contract rose 3.60 rupees to 1,075.
"Soyaoil futures were mixed in the absence of any fresh market trigger," the analyst said. The December soyaoil contract on the Multi Commodity Exchange was down 0.40 rupee at 449.40 per 10 kg, while the January contract rose 0.20 rupees to 462.70.
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