Sugar futures down on higher output hopes

Sugar fell by 0.14% to Rs 2,840 per quintal in futures trade today amid higher output expectations this season.  

However, an improvement in demand, capped the losses.

At the National Commodity and Derivatives Exchange, sugar for delivery in July traded Rs 4, or 0.14% lower at Rs 2,840 per quintal, with an open interest of 10,190 lots.

Likewise, sugar futures prices for delivery in May shed Rs 3, or 0.11% to Rs 2,726 per quintal, with a business turnover of 40,030 lots. 

Analysts said expectations of higher production led to the fall in the sugar futures prices. However, pick-up in demand from bulk consumers at the spot markets restricted the losses, they added.