May 23, 2011

Sugar NCDEX Spot Prices Decline 23 May

The Commodity market NCDEX Report For sugar futures reveals falling of sugar NCDEX prices on Friday due to demand in the NCDEX physical market and as profit booking by the traders the adequate stocks in the spot market also limited the gain.
The Commodity Sugar NCDEX June contract is currently trading at Rs.2675 per 100 Kg and noted a decline of 0.45% as per previous close. In the earlier sessions the contract traded at a range of Rs.2670-2695 per 100 Kg. Open interest of the contract is 20730 lots as of now.
Also, the Food Ministry, till May 16, has issued export orders to mills for over 155,816 metric tons of sugar out of the total quantity of half a million metric tons that it has allowed for outbound shipment.
Finance Minister Pranab Mukherjee will head the panel along with Agriculture Minister Sharad Pawar, Commerce and Industry Minister Anand Sharma and Food Minister K V Thomas as other members.

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