Sugar prices were down by 0.25 per cent to Rs 3,229 per quintal in futures market today as traders cut down their bets, triggered by ample stocks at the spot market on higher supplies from mills amid low demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May declined by Rs 8, or 0.25 per cent to Rs 3,229 per quintal with an open interest of 77,260 lots.
Similarly, the sweetener for delivery in March contracts shed Rs 4, or 0.13 per cent to Rs 3,121 per quintal in 92,180 lots.
Analysts said trimming of positions by participants, driven by adequate stocks position on higher supplies from mills in the physical market against subdued demand from bulk consumers, mainly led to the fall in sugar prices at the futures trade.
