Sugar prices dropped 0.58 per cent to Rs 2,553 per quintal in futures trade today as speculators offloaded positions amid adequate stock in the spot market.
The exchange opened for the evening session as it remained closed in the morning for Ambedkar Jayanti.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month July fell Rs 15 or 0.58 per cent to Rs 2,553 per quintal with an open interest of 13,780 lots.
Likewise, the sweetener for delivery in May traded lower by Rs 10 or 0.40 per cent at Rs 2,461 per quintal in 39,550 lots.
Analysts said offloading of positions by speculators, tracking a weak trend in the spot market on higher supplies from millers against low demand form bulk consumers, mainly kept a squeeze on sweetener prices at the futures trade.
