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India sugar futures fall after decision to allow imports

Thursday, April 6, 2017, 8:20
This news item was posted in Business category and has 0 Comments so far.

NEW DELHI, April 6 (Reuters) – Indian sugar futures fell onThursday following the world’s biggest sugar consumer’s decisionon Wednesday to allow imports of 500,000 tonnes of duty-free rawsugar.

The May sugar contract was trading 0.7 percent lowerat 3,785 rupees ($58.62) per 100 kg on the National Commodity &Derivatives Exchange Ltd (NCDEX) as of 1330 GMT, on track toclose lower for the third straight day.

The most actively traded soyoil futures were down0.2 percent at 639.30 rupees per 10 kg on the National Commodity& Derivatives Exchange Ltd (NCDEX), while soybean futuresclosed 0.9 percent lower at 2,854 rupees per 100 kg.

The April rapeseed contract closed 0.8 percentlower at 3,896 rupees per 100 kg, tracking falls in rival soyoilin the domestic market.($1 = 64.5700 Indian rupees)(Reporting by Sudarshan Varadhan; Editing by Sunil Nair)

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