Sugar futures remain weak on low demand, higher supply

Sugar prices fell by 0.90 per cent to Rs 3,508 per quintal today as participants engaged in reducing their positions, driven by easing demand in the spot market against ample stocks.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December fell by Rs 32, or 0.90 per cent to Rs 3508 per quintal with an open interest of 13,880 lots.
On similar lines, the sweetener for delivery in October contracts traded lower by Rs 28, or 0.79 per cent to Rs 3,503 per quintal in 17,090 lots.
Marketmen said offloading of positions by participants amid fall in demand from bulk consumers at the spot market against increased supplies millers, kept sugar prices lower at futures trade.