Sugar futures fall 0.22% on low demand, adequate stocks

Sugar prices softened by 0.22 per cent to Rs 3,673 per quintal in futures trade today as speculators reduced their positions amid weak demand in the spot market against sufficient stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month October declined by Rs 8 or 0.22 per cent to Rs 3,673 per quintal with an open interest of 8,090 lots.
Likewise, the sweetener for delivery in July contracts weakened by 2 or 0.06 per cent to Rs 3,553 per quintal in 43,550 lots.
Analysts attributed fall in sweetener prices at futures trade to a muted demand from bulk consumers in the spot market against adequate stocks position on improved supplies.