Sugar futures traded 0.94% lower at Rs 2,719 per quintal today amid supply pressure following higher output even as demand from bulk consumers picked up.
At the National Commodity and Derivatives Exchange, sugar for delivery in June fell by Rs 26, or 0.94%, to Rs 2,744 per quintal, with an open interest of 23,810 lots.
Similarly, sugar for delivery in May lost Rs 24, or 0.87% to Rs 2,719 per quintal, with a business volume of 37,490 lots.
Analysts attributed the fall in sugar futures prices to adequate stocks following higher production estimates.
However, increased offtake by bulk consumers, as demand picks up during summer months, capped the losses, they added.
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