Sugar down 0.6% on ample supplies

Sugar futures for March declined by Rs 18, or 0.6%, to trade at Rs 2,986 per quintal in 23,140 lots.

At the National Commodity and Derivatives Exchange (NCDEX), the far-month April contract shed Rs 14, or 0.46%, to Rs 3,037 per quintal, in 34,030 lots.

Prices dropped as speculators engaged in trimming their positions, triggered by higher supplies in physical markets.

Besides, subdued demand from bulk consumers also weighed on the sweetener prices at futures trade.     

In the Kolhapur market, sugar prices fell to Rs 3,174 per quintal in the previous session's trade.

Delay in lifting the curbs on the controlled sector by the government also affected the trade.