 "Sugar down 0.6% on supply pressure")
Sugar fell by another 0.61% to Rs 2,597 per quintal in futures trade today as participants engaged in trimming positions, triggered by ample stocks at the spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in December fell Rs 16, or 0.61% to Rs 2,597 per quintal with an open interest of 60,330 lots.
Similarly, the sweetener for delivery in far-month March next year declined by Rs 15, or 0.55% to Rs 2,736 per quintal in 41,710 lots.
Analysts said offloading of positions by participants triggered by adequate stocks position at spot market on higher supplies from mills, mainly kept sugar prices down at futures trade but ongoing festive and wedding season demand capped the fall.
At the National Commodity and Derivatives Exchange, sugar for delivery in December fell Rs 16, or 0.61% to Rs 2,597 per quintal with an open interest of 60,330 lots.
Similarly, the sweetener for delivery in far-month March next year declined by Rs 15, or 0.55% to Rs 2,736 per quintal in 41,710 lots.
Analysts said offloading of positions by participants triggered by adequate stocks position at spot market on higher supplies from mills, mainly kept sugar prices down at futures trade but ongoing festive and wedding season demand capped the fall.