Continuing its falling streak for the third day, sugar prices eased by another 0.17 per cent to Rs 3,425 per quintal in futures market today as traders engaged in reducing their positions, triggered by ample stocks at the spot market on higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in May shed Rs 6, or 0.17 per cent, to Rs 3,425 per quintal, with an open interest of 1,17,550 lots.
Likewise, the sweetener for delivery in far-month July weakened by Rs 5, or 0.14 per cent, to Rs 3,561 per quintal in 25,750 lots.
Analysts said trimming of positions by participants, driven by sufficient stocks position on higher supplies from mills in the physical market mainly kept sugar prices lower at futures trade.
