Gur futures fall on rising inventories

Written by Agencies | New Delhi | Updated: Mar 31 2011, 19:56pm hrs
Gur prices declined by Rs 21.50 to Rs 1,001 per 40 kg in the future trading on Thursday on reduced offtake by speculators, driven by weak spot market sentiment. Market analysts said heavy stocks position along with fall in demand at physical markets mainly put pressure on gur futures prices.

Reports of bumper sugarcane crop this year also further influenced the futures trading of gur, they added.

At the National Commodity and Derivatives Exchange, gur for delivery in September shed Rs 21.50, or 2.10 per cent, to Rs 1,001 per 40 kg, with an open interest of 1,940 lots.

Likewise, gur futures prices for delivery in July moved down by Rs 11, or 1.10 per cent, to Rs 988 per 40 kg, with an open interest of 11,580 lots.