Sugar down 0.4% on ample supply

Speculators trim positions on weak demand from ice-consuming industries

Sugar prices fell 0.39 per cent to Rs 2,786 per quintal in futures trading today as speculators trimmed positions on weak demand from bulk consumers against ample supplies.
    
At the National Commodity and Derivatives Exchange, sugar for delivery in January lost Rs 11, or 0.39 per cent, to Rs 2,786 per quintal with an open interest of 18,500 lots.
    
February sugar shed Re one, or 0.04 per cent, to Rs 2,771 per quintal in 17,030 lots.
    
Analysts attributed the fall in sugar futures to ample supplies from mills against weak demand from bulk consumers such as ice-cream and soft-drink makers in view of winter season.