Sugar down 0.7% in futures trade on higher supply

Sugar for delivery in October fell by 0.21%

Sugar prices moved down by 0.78% to Rs 2,925 per quintal in futures trading today as speculators offloaded their positions on expectations of higher supplies from producing areas.
    
At the National Commodity and Derivatives Exchange, sugar for delivery in September fell by Rs 23 or 0.78% to Rs 2925 per quintal in open interest of 1750 lots.
    
Similarly, sugar for delivery in October fell by Rs 6 or 0.21% to Rs 2920 per quintal in 10,390 lots.
    
Market analysts said speculators offloading their positions on expectated higher supplies from producing areas mainly kept pressure on sugar prices at futures trade.