Sugar futures down 1.81% on adequate stocks position

Sugar prices moved down by 1.81 per cent to Rs 3,250 per quintal in futures trade today as speculators reduced exposure, triggered by ample stocks at spot market against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December drifted down by Rs 60, or 1.81 per cent to Rs 3,250 per quintal with an open interest of 200 lots.
Analysts said offloading of positions by participants on the back of sufficient stocks position in the physical market against muted demand from bulk consumers, mainly led to decline in sugar prices at futures trade.