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Gur futures eases on selling, rising inventories

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Press Trust of India New Delhi

Gur futures prices declined by Rs 11 to Rs 1,010 per 40 kg today, due to weak spot market sentiments.

Market analysts said reports of a higher sugarcane production this year influenced trading sentiments in futures trade.

Weak demand and large stocks position in physical markets too put pressure on gur prices, they added.

At the National Commodity and Derivatives Exchange, gur for September contract dropped by Rs 11, or 1.08 per cent, to Rs 1,010 per 40 kg, with an open interest of 760 lots.

Prices for current month March's contract fell by Rs 3.50, or 0.39 per cent, to Rs 883.50 per 40 kg, clocking an open interest of 12,090 lots.

 

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First Published: Feb 22 2011 | 2:24 PM IST

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