Cottonseed oil cake for August delivery declined Rs 100 or 3.97 per cent to Rs 2,516 per quintal with an open interest of 570 lots.
The National Commodity and Derivatives Exchange (NCDEX) today said it has offered Farmer Producer Organisations (FPOs) to deposit their produce in exchange approved warehouses, immediately after taking a sell position on the exchange platform.
After the relaunch of the contract, the exchange received encouraging response from the market participants following measures taken by it in making markets safer.
Marketmen apart from tight stocks position in the market following pause in supplies by mills, robust demand from bulk consumers and stockists, lifted the sweetener prices to almost six-year high.
At the National Commodity and Derivatives Exchange, sugar for delivery in December drifted lower by Rs 17 or 0.47 percent to Rs 3,589 per quintal with an open interest of 13,970 lots.
At the National Commodity and Derivatives Exchange, sugar for delivery in May eased by Rs 10, or 0.30 percent, to Rs 3,307 per quintal with an open interest of 28,780 lots.
Sugar production in India, the world's second largest producer after Brazil, stood at 283 lakh tonnes in the 2014-15 marketing year (October-September).
In June alone, over 7,200 tonnes of commodities have been traded on the forwards platform of the exchange, an expansion of over 60 per cent compared with May, the leading commodity exchange said.
M Manickam, MD of Sakthi Sugars discusses the possibilities in the sugar-pricing and why he thinks Rs 25-26 is the most comfortable range.
Sugar futures prices rose by 0.32% to Rs 2,825 per quintal today as speculators created fresh positions, triggered by rising demand in the spot market in view of the ongoing festive season.
Supported by a pick-up in demand in the spot market for the ongoing festive season, sugar futures recovered by 0.21% to Rs 2,797 per quintal today.
Wheat declined by 0.13% in futures trade today as speculators reduced their positions amid supply pressure, following a record procurement by the government.