Sugar futures soften by 0.34 pc on ample stocks

Sugar prices declined by 0.34 per cent to Rs 3,537 per quintal in futures trading today as speculators cut down their positions, driven by adequate stocks at spot market against muted demand.

At the National Commodity and Derivatives Exchange, sugar for delivery in October fell by Rs 12, or 0.34 per cent to Rs 3,537 per quintal with an open interest of 7,320 lots.

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