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Sugar prices fell by 0.30% to Rs 2,944 per quintal in futures trade today as speculators reduced their holdings due to weak demand from bulk consumings in the spot market against adequate supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in November month declined by Rs 9, or 0.30% to Rs 2944 per quintal with an open interest of 11980 lots.
Similarly, the sweetener for delivery in October traded lower by Rs 4, or 0.14% to Rs 2924 per quintal in 10200 lots.
Market analysts said speculators reduced their holdings on the back of weak demand from bulk consumers in the spot market against adequate supplies from producing regions mainly led to decline in sugar prices at futures trade.
