 "Sugar down 0.5% on sluggish demand, ample supply")
Sugar prices fell by 0.59% to Rs 3,024 per quintal in futures trading today as speculators reduced their holdings due to sluggish demand from bulk consumers in the spot market.
Ample supplies in the physical market also put pressure on sugar prices.
At the National Commodity and Derivatives Exchange, sugar for delivery in August fell by Rs 18, or 0.59% to Rs 3,024 per quintal with an open interest of 36,140 lots.
Market analysts said sluggish demand from bulk consumers against ample supplies in the market, mainly led to fall in sugar prices at futures trade.
Ample supplies in the physical market also put pressure on sugar prices.
At the National Commodity and Derivatives Exchange, sugar for delivery in August fell by Rs 18, or 0.59% to Rs 3,024 per quintal with an open interest of 36,140 lots.
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Similarly, sugar for delivery in July contract traded lower by Rs 2, or 0.07% to Rs 2,965 per quintal in 330 lots.
Market analysts said sluggish demand from bulk consumers against ample supplies in the market, mainly led to fall in sugar prices at futures trade.