 "Sugar down 0.2% on higher supply")
Sugar remained weak for the second straight day and prices fell further by 0.25 per cent to Rs 2,420 per quintal in futures trade today as speculators indulged in reducing positions, driven by adequate stocks position on higher supplies from mills at spot market.
Besides, reports of higher output weighed on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in May shed Rs 6, or 0.25 per cent, to Rs 2,420 per quintal with an open interest of 32,140 lots.
Analysts said off-loading of positions by speculators, triggered by higher supplies in physical markets from mills, mainly kept sugar prices lower at futures trade.
Besides, reports of higher output weighed on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in May shed Rs 6, or 0.25 per cent, to Rs 2,420 per quintal with an open interest of 32,140 lots.
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Similarly, the sweetener for delivery in far-month July contracts edged lower by Rs 3, or 0.12 per cent, to Rs 2,541 per quintal in 30,240 lots.
Analysts said off-loading of positions by speculators, triggered by higher supplies in physical markets from mills, mainly kept sugar prices lower at futures trade.