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Indian sugar contracts for August eased on Monday in anticipation of low deliveries ahead of the expiry next week, while September contracts were steady on hopes for festival demand. "There are no takers for the August contract," said Haunch Kumar Singh, an analyst with Relegate Commodities Ltd. The contracts expire on August 20.
At 2:18 pm (0848 GMT), the August contract was down 0.31 percent at 1,275 rupees ($31.4) per 100 kg. The September contract was unchanged at 1,293 rupees, down from the day's high of 1,298. "In September there is an expectation of demand as festive season is coming," Amol Tilak of Kodak Commodity Services Ltd said. However, the overall trend is expected to stay bearish on a bumper domestic production and a global glut.

Copyright Reuters, 2007

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