Sugar weakens on subdued demand, ample supply

Amid subdued demand and higher supplies into the physical markets, sugar prices fell Rs 7 per quintal in futures trade today.

At the National Commodity and Derivatives Exchange, sugar for delivery in December declined by Rs 7, or 0.21%, to Rs 3,263 per quintal, with an open interest of 18,560 lots.

The January delivery also shed Rs 2, or 0.06% to Rs 3,287 per quintal, in an open interest of 23,500 lots.

Marketmen said fall in sugar futures prices was mostly due to fall in demand from bulk consumers amid ample supply in the spot markets.