Sugar down 0.2% on ample supply

Commodity for delivery in September traded lower by 0.19%

Sugar futures traded lower by 0.20% to Rs 3.050 per quintal today as speculators engaged in reducing positions amidst ample supplies from producing belts in physical markets.

At the National Commodity and Derivatives Exchange, sugar for delivery in August fell by Rs 6, or 0.20% to Rs 3,050 per quintal with an open interest of 17,870 lots.

Similarly, the sweetener for delivery in September traded lower by Rs 6, or 0.19%, to Rs 3,074 per quintal in 8,610 lots.

Analysts said offloading of positions by speculators, driven by ample supplies in the physical market and weak demand from bulk consumers, kept pressure on sugar prices at futures trade.