Low demand drags sugar futures down by 0.19%

Sugar prices softened by 0.19 per cent to Rs 3,680 per quintal in futures trade today as speculators trimmed their positions amid sufficient stocks position on increased supplies against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in July declined by Rs 7, or 0.19 per cent, to Rs 3,680 per quintal with an open interest of 130 lots.
Analysts said offloading of positions by traders amid adequate stocks position on increased supplies from mills in the physical market against easing demand mainly weighed on sugar prices at futures trade.