Sugar down 0.3% on ample supply

Analysts said increased supplies in the physical market, subdued demand from bulk consumers kept pressure on sugar prices

Sugar prices fell by 0.32% to Rs 3,072 per quintal in futures trade today as speculators reduced positions amidst adequate stocks on ample supplies in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in August declined by Rs 10, or 0.32%, to Rs 3,072 per quintal with an open interest of 21,210 lots.

Similarly, the sweetener for delivery in September traded lower by the same margin to Rs 3,138 per quintal in 9,110 lots.

Analysts said besides increased supplies in the physical market, subdued demand from bulk consumers kept pressure on sugar prices at futures trade.