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Indian sugar prices eased on slack demand

MOMBAY: Bombay sugar prices suffered a modest setback on Monday on slackening of retail demand and fresh sugar supplies, dealers said.

Ready sugar S-30 lost 5/10 rupees to 1,290/1,315 rupees per quintal and M-30 was quoted lower at 1,310/1,348 rupees per quintal.

Sugar mill delivery fell by 5/10 rupees to 1,225/1,235 rupees per quintal due to the lack of any fresh demand from mills in neighbouring states, dealers said.

CASTORSEED

Indian castorseed June delivery eased to 1,026/1,027 rupees per quintal on Monday against the previous closing of 1,034.50 rupees on fresh offerings, traders said.

"Sluggish demand from exporters and reports of increased supplies of castorseed at production centres triggered off fresh unloading by bull operators," said a dealer.

Groundnut oil fell to 386/387 rupees per 10 kg against the previous 389/390 rupees on sluggish demand at higher levels.

"Rising arrivals of imported palm oil at the Bombay port also aided the weak sentiments," one miller said.-Reuter