Sugar prices moved down by 0.99 per cent to Rs 3,411 per quintal in futures trade today as speculators trimmed their positions amid adequate stocks position on increased supplies at spot market against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December drifted lower by Rs 34, or 0.99 per cent to Rs 3,411 per quintal with an open interest of 5,770 lots.
Analysts said offloading of positions by traders, triggered by sufficient stocks on increased supplies from mills in the physical market against lower demand from bulk consumers, mainly influenced sugar prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
