Sugar prices drifted 1.13 per cent to Rs 3,162 per quintal in futures trading today as participants trimmed their positions, dragged down by adequate stocks at the spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in March fell by Rs 36 or 1.13 per cent to Rs 3,162 per quintal with an open interest of 1,11,140 lots.
On similar lines, the sweetner for delivery in far-month May declined by Rs 34 or 1.03 per cent to Rs 3,252 per quintal in 30,310 lots.
Analysts said offloading of positions by traders triggered by sufficient stocks on higher supplies from mills, mainly kept the pressure on sugar prices at the futures trade.
