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Sugar prices moved down by 0.59% to Rs 3,017 per quintal in futures market today as speculators reduced positions on sluggish demand in the spot market against higher supplies from producing regions.
At the National Commodity and Derivatives Exchange, sugar for delivery in October month fell by Rs 18, or 0.59% to Rs 3,017 per quintal with an open interest of 12,040 lots.
Likewise, the sweetener for delivery in September traded lower by Rs 14, or 0.46% to Rs 3,002 per quintal in 15,290 lots.
Market analysts said the fall in sugar prices at futures trade to higher supplies in the market from producing regions, triggering off-loading of positions by speculators, mainly influenced sugar prices at futures trade.
