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Sugar prices declined by 0.24% to Rs 2,879 per quintal in futures trade today as speculators offloaded positions amidst higher supplies in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in October traded lower by Rs 7, or 0.24% to Rs 2,879 per quintal with an open interest of 4,190 lots.
Similarly, the sweetener for delivery in December shed Rs 6, or 0.21% to Rs 2,789 per quintal in 10,890 lots.
Market analysts said ample supplies from millers in the spot market mainly kept pressure on the sweetener prices at futures trade but ongoing festive season demand capped the fall.
