Sugar prices in futures trade fell by 1.25% to Rs 2,928 per quintal today, as speculators reduced their positions amid supply pressure in the spot market..
At the Multi Commodity Exchange (MCX), sugar for delivery in June fell by Rs 37, or 1.25%, to Rs 2,928 per quintal, with a business turnover of 260 lots.
Similarly, sugar for delivery in March fell by Rs 5, or 0.18%, to Rs 2,725 per quintal, with a business volume of 27,850 lots.
Market analysts attributed the fall in sugar prices to higher supply of non-levy sugar in the market and delay in summer in North India.
Expectations that demand from cold drink makers and other bulk consumers may pick up, however, restricted the losses, they added.
