Extending its losses for the third straight day, sugar prices drifted lower by 0.52 per cent to Rs 3,650 per quintal in futures trading today as participants engaged in trimming their positions amid low demand in the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month October dropped by Rs 19, or 0.52 per cent, to Rs 3,650 per quintal, with an open interest of 7,980 lots.
On similar lines, the sweetener for delivery in July traded lower by Rs 8, or 0.23 per cent, to Rs 3,535 per quintal in 42,590 lots.
Analysts said offloading of positions by traders due to easing demand in the spot market against adequate stocks position on increased supplies, kept sweetener prices lower at futures trade.
