Indian sugar futures were trading lower on Thursday on profit-taking driven by correction in overseas market, though robust demand in local spot markets limited the downside. At 1217 GMT, the key May contract was down 0.29 percent at 3,137 Indian rupees per 100 kg on the National Commodity and Derivatives Exchange, after rising to 3,279 rupees last week, the highest level since January 22, 2013.
Futures are likely to edge higher on Friday on a drop in the production, 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.
OILSEEDS AND SOYAOIL
Soyabean futures dropped on profit-taking, while soyaoil futures were trading lower following losses in palm oil.
Malaysian palm oil futures ended lower on Thursday after an industry report showed that stocks in world's second-largest grower unexpectedly rose, and as a firm ringgit continued to drag on prices.
The May soyaoil contract was down 0.83 percent at 697 rupees per 10 kg.
The May soyabean contract closed 0.67 percent lower at 4,375.5 rupees per 100 kg, while May rapeseed contract edged down 0.03 percent to 3,455 rupees per 100 kg.
GUAR SEED
Guar seed futures edged higher on good demand in physical market, though higher production estimate capped the upside.
The May contract ended up 1 percent at 4,620 rupees per 100 kg.
Futures are likely to open lower in the next session.
CUMIN SEED
Indian jeera, or cumin seed, futures rose on expectations of higher exports in coming months.
The key May contract closed up 0.91 percent at 10,015 rupees per 100 kg.
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