Sugar down 0.47% on low demand, adequate stocks

Commodity for delivery in October contracts moved down by Rs 15 or 0.42%

Sugar prices were down by 0.47% to Rs 3,589 per quintal in futures trade today as speculators cut down their bets amid easing demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, sugar for delivery in December drifted lower by Rs 17 or 0.47% to Rs 3,589 per quintal with an open interest of 13,970 lots.

On similar lines, the sweetener for delivery in October contracts moved down by Rs 15 or 0.42% to Rs 3,574 per quintal in 17,390 lots.

Analysts attributed the fall in sweetener prices at futures market to lower demand from bulk consumers in the spot market against ample stocks position.