Amid weak demand from bulk consumers and hopes of surplus production, sugar futures prices fell by 0.16% to Rs 2,462 per quintal today as speculators reduced their positions.
At the National Commodity and Derivatives Exchange, sugar for delivery in June fell by Rs 4, or 0.16%, to Rs 2,462 per quintal, with an open interest of 16,300 lots. It had ended 1.68% lower at Rs 2,452 per quintal in the previous session.
Similarly, sugar for delivery in July fell by similar margin to Rs 2,511 per quintal, with an open interest of 14,520 lots.
Meanwhile, in Kolhapur, a key market in top producer Maharashtra, the most traded S-variety edged down by 0.43% to Rs 2,532 per quintal.
Analysts said the fall in sugar futures prices was due to weak demand from bulk consumers amid expectations of higher production in the country.
