Sugar falls by 0.6% on higher supply

Sugar prices moved down by 0.61% to Rs 2,749 per quintal in futures trade today as speculators reduced their exposure, triggered by higher supplies from mills at spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December declined by Rs 17, or 0.61% to Rs 2,749 per quintal with an open interest of 56,200 lots.

Similarly, the sweetener for delivery in October was trading Rs 14, or 0.51% lower at Rs 2,743 per quintal in 16,080 lots.

Analysts attributed the fall in sugar prices at futures trade to higher supplies from mills at spot markets against subdued demand from bulk consumers.