 "Sugar down 0.5% on sluggish demand")
Sugar prices declined by 0.53% to Rs 2,981 per quintal in futures trading today as speculators reduced positions, tracking a weak trend at spot markets on sluggish demand against ample supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in June declined by Rs 16, or 0.53% to Rs 2,981 per quintal with an open interest of 44,060 lots.
Similarly, the sweetner for July contracts sheded Rs 11, or 0.37% to Rs 2,971 per quintal in 25,980 lots.
Analysts said besides weak demand in the spot market, ample supplies from millers, mainly led to decline in sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in June declined by Rs 16, or 0.53% to Rs 2,981 per quintal with an open interest of 44,060 lots.
Similarly, the sweetner for July contracts sheded Rs 11, or 0.37% to Rs 2,971 per quintal in 25,980 lots.
Analysts said besides weak demand in the spot market, ample supplies from millers, mainly led to decline in sugar prices at futures trade.
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