Sugar futures down 0.79% on ample supply

Sugar prices were down 0.79 per cent to Rs 2,270 per quintal in futures market today as traders reduced positions, triggered by higher supplies from mills at spot market against muted demand from bulk consumers.
At National Commodity and Derivatives Exchange, sugar for delivery in December fell by Rs 18, or 0.79 per cent to Rs 2,270 per quintal with an open interest of 22,270 lots.
Likewise, the sweetener for delivery in October contracts traded lower by Rs 12, or 0.55 per cent to Rs 2,184 per quintal in 42,910 lots.
Analysts attributed the fall in sugar prices to higher supplies from mills in the physical market against low demand from bulk consumers.