Sugar down 1.4% on adequate stocks

Commodity for delivery in October contracts traded lower by Rs 51 or 1.38%

Sugar prices were down 1.40% to Rs 3,675 per quintal in futures trade today as speculators cut down their positions, triggered by ample stocks at spot market against easing demand.

At the National Commodity and Derivatives Exchange, sugar for delivery in December fell by Rs 52 or 1.40% to Rs 3,675 per quintal with an open interest of 13,980 lots.

On similar lines, the sweetener for delivery in October contracts traded lower by Rs 51 or 1.38% to Rs 3,640 per quintal in 25,920 lots.

Analysts attributed the fall in sweetener prices at futures trade to sufficient stocks position in the physical market against lower demand from bulk consumers.