India sugar futures fall after cabinet extends cap on stocks by 6 months | Reuters

NEW DELHI Indian sugar futures fell on Wednesday after the cabinet extended by six months a limit on the quantity of sugar that mills can hold, in a move to contain high local prices.May sugar was down 0.2 percent at 3,761 rupees ($58.26) per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX) as of 1240 GMT.

The price of the contract had breached the 4000-rupee level to reach a record high in February.India, the world's biggest sugar consumer, earlier this month allowed imports of 500,000 tonnes of duty-free raw sugar, as a drought has cut output below consumption levels for the first time in seven years.

May soyoil futures were down 0.4 percent at 617 rupees, tracking weakness in Malaysian palm oil and other overseas soyoil contracts.

May rapeseed contract was marginally up at 3,821 rupees per 100 kg, while Indian soybean closed largely flat at 3009 rupees.($1 = 64.5550 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Vyas Mohan)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Apr 19, 2017 21:55 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See