Sugar prices slipped by 1.06 per cent to Rs 3,278 per quintal in futures trading today as participants lightened their positions, triggered by adequate stocks at the spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May dropped by Rs 35, or 1.06 per cent to Rs 3,278 per quintal with an open interest of 1,23,280 lots.
Likewise, the sweetener for delivery in March moved down by Rs 30, or 0.94 per cent to Rs 3,163 per quintal in 43,210 lots.
Analysts said trimming of positions by traders, driven by sufficient stocks position on higher supplies from mills against lower demand, mainly pulled down sugar prices at futures trade.
