Sugar futures down 0.44% on low demand, adequate stocks

Sugar prices drifted lower by 0.44 per cent to Rs 3,865 per quintal in futures trade today as speculators reduced their positions amid easing demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December fell by Rs 17, or 0.44 per cent to Rs 3,865 per quintal with an open interest of 13,610 lots.
Likewise, the sweetener for delivery in October month contracts shed Rs 5, or 0.13 per cent to Rs 3,842 per quintal in 37,960 lots.
Analysts attributed the fall in sweetener prices at futures trading to a lower demand from bulk consumers in the spot market against ample stocks position.