Sugar futures trade lower by 0.15% on higher supply

Sugar prices traded marginally lower by 0.15% to Rs 2,722 per quintal in futures market today as speculators trimmed positions on low demand in the spot market against higher supplies from producing belts.

 

At the National Commodity and Derivatives Exchange, sugar for delivery in March declined by Rs 4, or 0.15% to Rs 2,722 per quintal with an open interest of 20,960 lots.

 

The sweetener for delivery in February traded lower by Rs 2, or 0.07% to Rs 2,710 per quintal in 16,100 lots.

 

Analysts attributed the decline in sugar futures to higher supplies from producing regions against low demand in the spot market.