Continuing to slide, sugar prices fell further by 0.52% to Rs 3,252 per quintal in the futures trade today as speculators reduced exposure amid weak demand from bulk consumers and ample supplies in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in January declined by Rs 17, or 0.52%, to Rs 3,252 per quintal, with an open interest of 30,290 lots.
February sugar shed Rs 14, or 0.42% to Rs 3,309 per quintal, in an open interest of 14,600 lots.
Marketmen said continued fall in sugar futures prices was mostly due to reduced offtake by bulk consumers as demand usually declines during the winter season amid higher supply in the spot markets.