 "Sugar slumps by 0.91% on ample stocks")
Sugar prices were down 0.91 per cent to Rs 2,724 per quintal in futures trading today as speculators trimmed positions, triggered by ample stocks at spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in December moved down by Rs 25, or 0.91 per cent, to Rs 2,724 per quintal with an open interest of 59,670 lots.
Similarly, the sweetener for delivery in far-month March next year was trading lower by Rs 18, or 0.63 per cent, at Rs 2,826 per quintal in 24,720 lots.
Analysts said adequate stocks position in the physical market on account of higher supplies from mills, mainly kept pressure on sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in December moved down by Rs 25, or 0.91 per cent, to Rs 2,724 per quintal with an open interest of 59,670 lots.
Similarly, the sweetener for delivery in far-month March next year was trading lower by Rs 18, or 0.63 per cent, at Rs 2,826 per quintal in 24,720 lots.
Analysts said adequate stocks position in the physical market on account of higher supplies from mills, mainly kept pressure on sugar prices at futures trade.