Sugar prices drifted lower by 1.44 per cent to Rs 3,351 per quintal in futures trade today as speculators trimmed positions, triggered by ample stocks at spot market against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in October declined by Rs 49, or 1.44 per cent, to Rs 3,351 per quintal with an open interest of 200 lots.
Analysts said, offloading of positions by participants on the back of sufficient stocks position in the physical market against lower demand from bulk consumers, mainly influenced sugar prices at futures trade.
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