 "Sugar down 0.5% on weak demand, ample supply")
Sugar prices fell by 0.56% to Rs 3,003 per quintal in futures trade today as speculators reduced their holdings largely due to weak demand from bulk consumers in the spot market against ample supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in July month fell by Rs 17, or 0.56% to Rs 3,003 per quintal with an open interest of 20,910 lots.
Similarly, sugar for delivery in the August contract declined by Rs 15, or 0.49% to Rs 3,058 per quintal in 24,000 lots.
Market analysts said speculators reduced their holdings on the back of weak demand from bulk consumers in the spot market mainly influenced sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in July month fell by Rs 17, or 0.56% to Rs 3,003 per quintal with an open interest of 20,910 lots.
Similarly, sugar for delivery in the August contract declined by Rs 15, or 0.49% to Rs 3,058 per quintal in 24,000 lots.
Market analysts said speculators reduced their holdings on the back of weak demand from bulk consumers in the spot market mainly influenced sugar prices at futures trade.
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