Sugar prices up as truckers strike enters Day 2

Reuters
Posted: Tuesday, Jan 06, 2009 at 1118 hrs IST
Updated: Tuesday, Jan 06, 2009 at 1118 hrs IST

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Wheat acreage up 5 pc to 137.02 LH Gold nosedives Rs 320 per 10 gram Sugar remains quiet on some support Basmati paddy prices jump 20-25% in Punjab, Haryan...

Mumbai: India sugar futures rose on Tuesday morning on firm spot buying by traders as the truckers strike entered the second day, analysts said.

At 10:58 a.m. February futures on the National Commodity and Derivatives Exchange were up 0.25 percent at 1,986 rupees per 100 kg.

Tens of thousands of trucks stayed off the roads after talks with Indian officials to cut taxes and diesel prices broke down, threatening to push up prices of food and commodities across the country.

However, higher supplies in Jan-March period may limit the gains, analysts said.

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