Sugar remains weak, falls 0.5% on ample supply

Reduced offtake by bulk consumers affected the trade

Sugar futures for February declined by Rs 15, or 0.46%, to Rs 3,215 per quintal in 42,650 lots.

At the National Commodity and Derivatives Exchange, the March contract also fell by a similar margin to trade at Rs 3,255 per quintal in 12,990 lots.

Rising supplies, subdued spot market demand affected the trade.

Reduced offtake by bulk consumers as demand usually declines during winter season also triggered the downtrend.

In the Kolhapur spot market, sugar eased by Rs 2.50 to Rs 3,264 per quintal yesterday.