Sugar down 1% on subdued demand

Adequate stocks influence prices

Sugar futures today fell by Rs 34 to Rs 3,373 per quintal as speculators trimmed positions amid weak spot demand and higher supplies.

At the National Commodity and Derivatives Exchange, sugar for delivery in October traded lower by Rs 34, or 1%, to Rs 3,373 per quintal, with an open interest of 11,190 lots.

November sugar shed Rs 15, or 0.45%, to Rs 3,310 per quintal, in a turnover of 26,910 lots.

At the Kolhapur spot market in Maharashtra, sugar fell by Rs 9 to Rs 3,560 per 100 kg in yesterday's trade.

Marketmen said fall in sugar futures prices was due to weak demand amid adequate stocks following higher supplies in the spot markets.