Indian sugar futures eased on Tuesday for a second day after data showed new crop sowing has taken off strongly, while moderating prices in London also weighed. Demand in the physical market was sluggish even as supplies rose, with millers rushing to clear off their monthly sales quota, traders said.
By 3:22 pm (0952 GMT), the July contract on the National Commodity and Derivatives Exchange was down 0.41 percent at 1,441 rupees ($33.5) per 100 kg, after falling as much as 0.9 percent earlier. The August contract fell 0.33 percent to 1,488. Traders said prices had fallen sharply early after white sugar August futures in London fell 0.9 percent on Monday, but came off lows as London recovered 0.7 percent to $382 a tonne by 0937 GMT.
Comments
Comments are closed.