Sugar prices drifted lower by 0.66 per cent to Rs 3,770 per quintal in futures market today as speculators trimmed their positions amid adequate stocks position on increased supplies at spot market against lower demand.
In futures trading at the National Commodity and Derivatives Exchange, sugar for delivery in May fell by Rs 25, or 0.66 per cent, to Rs 3,770 per quintal, with an open interest of 1,490 lots.
Analysts said offloading of positions by traders, triggered by adequate stocks position on increased supplies from mills in the physical market against tepid demand from bulk consumers, mainly weighed on sugar prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
