Gur futures fell on rising inventories

Gur futures prices drifted by Rs 9 to Rs 947 per 40 kg in future trade today following fresh selling by speculators driven by heavy supply and large inventories in the physical market.

Market analysts said, mounting of new gur stocks on heavy supply into the spot market, caused the downfall in gur futures prices. 

Reports of better-then-expected sugar-cane crop this year further fueled the weak trend, they said.

At the National Commodity and Derivatives Exchange counter, gur futures prices for delivery in March dropped by Rs 9, or 0.94 per cent, to Rs 947 per 40 kg, with an open interest of 9,740 lots.

Current January-month delivery contract also shedded by Rs 5.50, or 0.60 per cent, to Rs 914 per 40 kg, with an open interest of 1,120 lots.