Sugar falls 1.42 pc in futures trade on ample supply

Sugar prices moved down by 1.42 per cent to Rs 2,775 per quintal in futures trade today as speculators offloaded positions, triggered by higher supplies from millers.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December fell by Rs 40, or 1.42 per cent to Rs 2,775 per quintal with an open interest of 8,030 lots.
In a similar fashion, the sweetener for delivery in October shed Rs 4, or 0.14 per cent to Rs 2,856 per quintal in 5,610 lots.
Market analysts said offloading of positions by speculators, driven by higher supplies from millers against low demand from bulk consumers, mainly kept pressure on sweetener prices at futures trade.