Sugar remains weak on adequate stocks, down 0.39%

Lower offtake from bulk consumers sustains downtrend

Sugar prices remained weak and fell further 0.39 per cent to Rs 3,061 per quintal in futures trading today as speculators reduced positions amid ample supplies in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in September fell by Rs 12, or 0.39 per cent to Rs 3,061 per quintal with an open interest of 8,640 lots.

The August contract traded lower by Rs 11, or 0.36 per cent to Rs 3,006 per quintal in 20,810 lots.

Analysts said adequate supplies in the market against low demand from bulk consumers weighed on the sweetener prices at futures trade.