Sugar falls by 0.8%, hurt by ample stocks

Sugar prices fell further by 0.83% to Rs 2,739 per quintal in futures trading today as speculators engaged in trimming their positions, triggered by ample stocks at spot market on higher supplies from mills.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December fell Rs 23, or 0.83%, to Rs 2,739 per quintal, with an open interest of 57,310 lots.

Similarly, the sweetener for delivery in October was trading Rs 14, or 0.51% lower, at Rs 2,735 per quintal in 15,460 lots.

Analysts said adequate stocks position at spot market on higher supplies from mills, mainly kept pressure on sugar prices at futures trade.