)
Sugar prices softened by Rs 5 to Rs 2,994 per quintal in futures trade today as speculators reduced their holdings on subdued demand from bulk consumers against ample supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in November declined by Rs 5, or 0.17% to Rs 2,994 per quintal with an open interest of 9,110 lots.
Similarly, sugar for delivery in October traded lower by Rs 4 or 0.13% to Rs 2988 per quintal in 11,550 lots.
Market analysts said speculators reduced their holdings due to subdued demand from bulk consumers in the spot market against ample supplies helped sugar prices to trade lower at futures trade.
