Raw sugar futures on ICE Futures US at 1307 GMT on Friday. October raw sugar contract dropped 0.18 cent or 1.3 percent to 13.96 cents per lb. Trading from 13.87 to 14.18 cents. Volume was at a busy 10,076 lots. Dollar strength and weakness of soft commodities across the board taking a toll on buying momentum in the sugar market - trader.
End-of-the-week profit taking seen following the previous session's three-percent gains. Sugar's near-term direction depends on developments in the currency and energy markets, rather than its own market fundamentals - trader. India has no plan to ban sugar exports but is considering a suggestion to remove export incentives in an attempt to raise domestic supplies and tame rising prices - senior government official.
Comments
Comments are closed.