Sugar prices declined by 0.53% to trade at a one-month low of Rs 2,8169 per quintal in futures trade today as speculators indulged in reducing their positions due to sluggish spot market demand amid ample stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in June fell by Rs 15, or 0.53%, to Rs 2,816 per quintal, with an open interest of 26,620 lots.
The July contract fell by Rs 5, or 0.18%, to Rs 2,846 per quintal, with an open interest for 13,730 lots.
Analysts attributed the fall in sugar futures prices to a weak trend at the spot markets due to subdued demand form bulk consumers against adequate stocks position.
