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Sugar prices remained weak for the second straight session and prices fell further by 0.36% to Rs 2,787 per quintal in futures trade today on higher supplies from mills against weak demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in January fell further by Rs 10, or 0.36%, to Rs 2,787 per quintal with an open interest of 23,790 lots.
Likewise, the sweetener for delivery in December shed Rs 8, or 0.29% to Rs 2,750 per quintal in 10,840 lots.
Analysts attributed persistent fall in sugar futures to higher supplies from mills against weak demand from bulk consumers such as ice-cream and soft-drink maker in view of winter season.
