Sugar prices dropped 1.36 per cent to Rs 2,825 per quintal in futures trade today as speculators offloaded positions amid adequate stocks in the spot markets on ample supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in October tumbled by Rs 39, or 1.36 per cent, to Rs 2,825 per quintal with an open interest of 5,840 lots.
Likewise, the sweetener for delivery in September traded lower by Rs 14, or 0.48 per cent, to Rs 2,911 per quintal in 2,410 lots.
Market analysts said offloading of positions by speculators, tracking a weak trend in the spot markets on higher supplies from millers against low demand form bulk consumers, mainly kept pressure on sweetener prices at futures trade.
