 "Sugar down 0.5% on ample stocks")
Sugar prices were down by 0.51% to Rs 2,747 per quintal in futures trade today as speculators reduced positions amid ample stocks position in spot markets due to higher supplies from millers.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May moved down by Rs 14, or 0.51% to Rs 2,747 per quintal with an open interest of 25,810 lots.
Likewise, the sweetener for delivery in March contracts traded lower by Rs 8, or 0.30% to Rs 2,647 per quintal in 23,100 lots.
Market analysts said offloading of positions by speculators, triggered by higher supplies from millers in the physical market against low demand from bulk consumers, mainly kept pressure on sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May moved down by Rs 14, or 0.51% to Rs 2,747 per quintal with an open interest of 25,810 lots.
Likewise, the sweetener for delivery in March contracts traded lower by Rs 8, or 0.30% to Rs 2,647 per quintal in 23,100 lots.
Market analysts said offloading of positions by speculators, triggered by higher supplies from millers in the physical market against low demand from bulk consumers, mainly kept pressure on sugar prices at futures trade.