Indian sugar futures ended lower on Friday on profit-taking due to higher supplies, erasing early gains from the government's move to remove curbs on the tightly regulated sugar sector. The government will no longer force mills to sell sugar to it at a discount and will not limit the amount they can sell in the open market, Food Minister K.V. Thomas said on Thursday after the cabinet agreed the changes.
The most-active sugar contract for May delivery on the National Commodity and Derivatives Exchange ended 0.40 percent lower at 2,996 rupees per 100 kg. Spot sugar rose 32 rupees to 3,082 rupees per 100 kg in the Kolhapur market in top-producing Maharashtra state.
CHANA Indian chana futures ended higher on concerns of lower yield in Madhya Pradesh, the largest producing state, and hopes of a pick-up in domestic buying, though arrivals from the new season crop weighed on sentiment.
The May contract ended up 1.35 percent at 3,520 rupees per 100 kg on National Commodity and Derivatives Exchange. Chana, or chickpea, edged up 12 rupees to 3,450 rupees per 100 kg in the New Delhi spot market.
JEERA The actively traded jeera contract for May delivery rose 2.23 percent higher to end at 13,837.5 rupees per 100 kg on the NCDEX. Spot jeera fell rose 191.5 rupees to 13,604 rupees per 100 kg in Unjha.
TURMERIC The most-active turmeric contract for May delivery fell 0.27 percent to 6,562 rupees per 100 kg on the NCDEX.
PEPPER Indian pepper futures fell due to sluggish exports, with Indian prices remaining higher compared with those of the competitors in the global market, and on concerns over a rise in imports. The most-active pepper contract for May delivery fell 0.42 percent to 35,750 rupees per 100 kg on the NCDEX.
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