Indian sugar futures closed up on Thursday as overseas sales from the world's second top producer improved, traders said. Indian mills are exporting more raw sugar to Iran and Asian markets, aided by a production incentives package and recovering world prices, seizing market share from top exporter Brazil. The key May contract on the National Commodity and Derivatives Exchange finished at 0.9 percent up at 3,128 rupees ($51.14) per 100 kg. Sugar futures are expected to open higher on Friday.
SOYAOIL & OILSEEDS Soya futures ended higher on bargain buying at lower levels, while new harvests kept rapeseed down. Soyaoil and soyabean could open up on Friday, but rapeseed is likely to open lower as fresh arrivals pick up in spots.
The April soyaoil contract ended up 0.2 percent at 727.1 rupees per 10 kg on the NCDEX. The April soyabean contract ended 0.9 percent up at 4,226 rupees per 100 kg. * The key April rapeseed contract closed 0.5 percent down at 3,487 rupees per 100 kg.
GUAR SEED Guar futures ended up on slowing arrival of fresh supplies in spots. The April guar seed contract rose 0.2 percent to close at 4,660 rupees per 100 kg.
TURMERIC Turmeric futures ended weak on long liquidation due to fresh arrivals, while large stocks weighed on prices. Turmeric may open weak on Friday. The key April contract ended down 2.2 percent at 6,798 rupees per 100 kg.
CUMIN SEEDS Cumin seeds, or jeera, futures were down on higher supplies from the new season crop and expectations of higher output. Jeera may open lower on lack of fresh buying interest. The April contract fell 0.8 percent to close at 10,540 rupees per 100 kg.
CHICKPEA Indian chana, or chickpea, futures ended down as weather concerns vanished, boosting production prospects. Chana may open weak in the next session.
Comments
Comments are closed.