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Sugar down 0.88% on increased supply

Expectations that govt may release higher non-quota sugar for the festival season influences prices

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 5:29 AM IST

Sugar futures today fell by Rs 31 to Rs 3,480 per quintal as speculators trimmed positions amid expectations that the government may release higher non-quota sugar for the festival season.

At the National Commodity and Derivatives Exchange, sugar for delivery in November traded lower by Rs 31, or 0.88%, to Rs 3,480 per quintal, with an open interest of 23,970 lots.

October sugar declined by Rs 22, or 0.62% to Rs 3,529 per quintal, with a turnover of 27,590 lots.

Marketmen said fall in sugar futures prices was due to adequate stocks in the spot markets amid hopes that the government may release higher September quarter quota of non-levy sugar for the festival season.

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First Published: Sep 26 2012 | 2:34 PM IST

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