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

Reuters April 19, 2017 21:55:31 IST
India sugar futures fall after cabinet extends cap on stocks by 6 months
| Reuters

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:

TAGS:

also read

Apple will enable storage of IDs like drivers licenses on iPhones
Business

Apple will enable storage of IDs like drivers licenses on iPhones

By Stephen Nellis (Reuters) -Apple Inc on Monday said it will offer the ability to store state-issued identification cards digitally on iPhones and that it is working with the U.S. Transportation Security Administration to accept the digital IDs at airports, one of several updates to the software that runs on its devices. It also showed updates to its FaceTime video chat app, adding the ability to schedule calls with multiple attendees and making the software compatible with Android and Windows devices.

Airline bosses call on UK and U.S. to lift trans-Atlantic travel restrictions
Business

Airline bosses call on UK and U.S. to lift trans-Atlantic travel restrictions

LONDON (Reuters) - The bosses of all airlines flying passenger services between Britain and the United States called on Monday for the countries' governments to relax COVID-19 restrictions to reopen travel routes between the two countries. After more than a year of restrictions, the CEOs of American Airlines, IAG unit British Airways, Delta Air Lines, United Airlines and JetBlue Airways Corp said high vaccination rates in both countries meant travel could restart safely. The push for reopening trans-Atlantic routes on Monday comes ahead of meetings between U.S.

EU patience wearing thin with UK on N.Ireland, weighing options
Business

EU patience wearing thin with UK on N.Ireland, weighing options

BRUSSELS (Reuters) - The European Union's patience towards Britain over Brexit arrangements in Northern Ireland is wearing thin and the bloc will consider its options should Britain continue its "confrontational path", an EU official said on Monday.