Sugar futures down 1.68% on lower demand, adequate stocks

Sugar prices fell 1.68 per cent to Rs 3,522 per quintal in futures trade today as speculators cut down their positions, driven by easing demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in October dropped by Rs 60, or 1.68 per cent to Rs 3,522 per quintal with an open interest of 12,220 lots.
Similarly, the sweetener for delivery in December contracts moved down by Rs 41, or 1.11 per cent to Rs 3,657 per quintal in 15,000 lots.
Analysts attributed the fall in sweetener prices at futures trade to subdued demand from bulk consumers in the spot market against ample stocks position.