Sugar prices fell by 0.88 per cent to Rs 3,696 per quintal in futures trade today as speculators cut down their positions against adequate stocks position folowed by increased supplies from producing belts.
At the National Commodity and Derivatives Exchange, sugar for delivery in March fell by Rs 33, or 0.88 per cent to Rs 3,696 per quintal with an open interest of 3,970 lots.
Similarly, the sweetener for delivery in May contracts traded lower by Rs 29, or 0.75 per cent to Rs 3,825 per quintal in 1,110 lots.
Analysts said offloading of positions by traders, driven by sufficient stocks position on increased supplies from mills in the physical market against muted demand from bulk consumers due to end of wedding season, mainly led to decline in sugar prices at futures trade.
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