 "Sugar down 0.3% on subdued demand, ample supply")
Sugar prices fell by 0.35% to Rs 3,135 per quintal in futures trade today as speculators reduced positions, driven by subdued demand from bulk consumers in the spot market against adequate supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month September contracts eased by Rs 11, or 0.35% to Rs 3,135 per quintal with an open interest of 9,050 lots.
Similarly, the sweetner for delivery August contract shed Rs 5, or 0.16% to Rs 3,051 per quintal in 22,980 lots.
Analysts said besides subdued demand from bulk consumers such as ice-cream and soft-drink makers in the spot market, ample supplies from millers, kept pressure on sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month September contracts eased by Rs 11, or 0.35% to Rs 3,135 per quintal with an open interest of 9,050 lots.
Similarly, the sweetner for delivery August contract shed Rs 5, or 0.16% to Rs 3,051 per quintal in 22,980 lots.
Analysts said besides subdued demand from bulk consumers such as ice-cream and soft-drink makers in the spot market, ample supplies from millers, kept pressure on sugar prices at futures trade.