Sugar down 0.4% on low demand, adequate stocks

According to analysts, price of the commodity moved down due to a lower demand from bulk consumers

Sugar prices moved down 0.37% to Rs 3,819 per quintal in futures trade today as speculators reduced their exposure, triggered by easing demand at the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, sugar for delivery in October contracts traded lower by Rs 14, or 0.37% to Rs 3,819 per quintal in 36,070 lots.

Analysts attributed weakness in sweetener prices at futures trade to a lower demand from bulk consumers in the spot market against ample stocks position.