Sugar prices declined by Rs 12 to Rs 3,347 per quintal in futures trade today as speculators reduced their positions, triggered by higher supplies in the spot markets.
However, delay in cane crushing in top-producing state of Maharashtra and rising demand ahead of the festive season restricted the fall.
At the National Commodity and Derivatives Exchange, the November contract for sugar declined by Rs 12, or 0.36%, to Rs 3,347 per quintal, with an open interest of 31,710 lots.
The December contract traded lower by the same margin to Rs 3,325 per quintal in 14,450 lots.
Marketmen said speculators reduced their positions, triggered by higher supplies in the spot market mainly kept pressure on sugar futures prices.
