April 6, 2017 / 1:35 PM / 4 months ago

India sugar futures fall after decision to allow imports

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NEW DELHI, April 6 (Reuters) - Indian sugar futures fell on Thursday following the world's biggest sugar consumer's decision on Wednesday to allow imports of 500,000 tonnes of duty-free raw sugar.

The May sugar contract was trading 0.7 percent lower at 3,785 rupees ($58.62) per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX) as of 1330 GMT, on track to close lower for the third straight day.

The most actively traded soyoil futures were down 0.2 percent at 639.30 rupees per 10 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX), while soybean futures closed 0.9 percent lower at 2,854 rupees per 100 kg.

The April rapeseed contract closed 0.8 percent lower at 3,896 rupees per 100 kg, tracking falls in rival soyoil in the domestic market. ($1 = 64.5700 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Sunil Nair)

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