 "Sugar down 0.5% on subdued demand, higher supply")
Sugar prices fell 0.57% to Rs 2,986 per quintal in futures trading today as speculators indulged in reducing positions on the back of subdued demand from bulk consumer in the spot markets.
Furthermore, adequate stocks following higher supplies from millers also put pressure on the prices of the sweetener.
At the National Commodity and Derivatives Exchange, sugar for delivery in June declined by Rs 17, or 0.57%, to Rs 2,986 per quintal with an open interest of 41,920 lots.
Analysts said apart from sluggish demand from bulk consumers in the spot markets, higher supplies from millers mainly led to the fall in sugar prices at futures trade.
Furthermore, adequate stocks following higher supplies from millers also put pressure on the prices of the sweetener.
At the National Commodity and Derivatives Exchange, sugar for delivery in June declined by Rs 17, or 0.57%, to Rs 2,986 per quintal with an open interest of 41,920 lots.
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In a similar fashion, the sweetener for delivery in July shed Rs 10, or 0.34%, to Rs 2,966 per quintal in 25,140 lots.
Analysts said apart from sluggish demand from bulk consumers in the spot markets, higher supplies from millers mainly led to the fall in sugar prices at futures trade.
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