Sugar prices drifted lower by 1.14 per cent to Rs 3,570 per quintal in futures trade today as speculators trimmed their positions amid higher supplies at spot markets against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March 2017 fell by Rs 41, or 1.14 per cent to Rs 3,570 per quintal with an open interest of 2,730 lots.
Similarly, the sweetener for delivery in December traded lower by Rs 38, or 1.12 per cent to Rs 3,364 per quintal in 11,520 lots.
Analysts said offloading of positions by participants, triggered by ample stocks on higher supplies from mills in the physical market against easing demand from bulk consumers, led to the decline in sugar prices at futures trade.
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