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Sugar prices eased by 0.67% to Rs 2,965 per quintal in futures trading today as speculators trimmed positions, triggered by higher supplies against lower demand from bulk consumers in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in July contracts declined by Rs 20, or 0.67% to Rs 2,965 per quintal with an open interest of 10,240 lots.
Similarly, the sweetener for delivery in August contract shed Rs 6, or 0.19% to Rs 3,084 per quintal in 22,080 lots.
Analysts said besides lower demand from bulk consumers in the spot market, higher supplies from millers mainly kept pressure on sugar prices at futures trade.
