Indian sugar futures were trading near their highest level in 14-1/2 months on Friday evening, buoyed by robust demand from bulk consumers like ice-cream and cold drink makers. At 1225 GMT, the key April contract was up 0.46 percent at 3,266 rupees ($54.34) per 100 kg on the National Commodity and Derivatives Exchange, after rising to 3,279 rupees earlier in the day, the highest level since January 22, 2013.
Futures are likely to fall on Monday on profit-taking, though robust demand in spot markets seen limiting the downside, dealers said. Indian sugar mills produced 21.5 million tonnes of the sweetener in the first half of the 2013/14 season that started on October 1, down 7 percent from a year earlier, a producers' body said on Wednesday.
OILSEEDS AND SOYOIL Indian soybean futures rose following gains in overseas markets, while soyoil futures were trading lower on strong rupee, which makes imports of edible oil cheaper. US soybean futures were poised to finish the week up more than 3 percent on shrinking US supplies. The May soyoil contract was down 0.15 percent at 706.05 rupees per 10 kg. The May soybean contract closed 0.26 percent higher at 4,399.5 rupees per 100 kg, while May rapeseed contract edged up 0.03 percent to 3,511 rupees per 100 kg.
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