 "Sugar down 0.7% on ample supply, low demand")
Sugar prices were down by 0.73 per cent to Rs 2,169 per quintal in futures trading today as speculators trimmed positions, triggered by higher supplies from millers against low demand from bulk consumers.
Also, reports of higher output estimates this marketing year kept pressure on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in July fell by Rs 16, or 0.73 per cent to Rs 2,169 per quintal with an open interest of 31,400 lots.
Analysts said offloading of positions by speculators, driven by adequate stocks in the market on increased supplies from mills, mainly led to decline in sugar prices at futures trade.
Low demand from bulk consumers such as ice-cream and soft-drink makers also influenced sugar prices at futures trading here.
Also, reports of higher output estimates this marketing year kept pressure on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in July fell by Rs 16, or 0.73 per cent to Rs 2,169 per quintal with an open interest of 31,400 lots.
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Similarly, the sweetener for delivery in October contracts shed Rs 6, or 0.27 per cent to Rs 2,224 per quintal in 37,190 lots.
Analysts said offloading of positions by speculators, driven by adequate stocks in the market on increased supplies from mills, mainly led to decline in sugar prices at futures trade.
Low demand from bulk consumers such as ice-cream and soft-drink makers also influenced sugar prices at futures trading here.