Sugar remains under pressure in futures trade, sheds 0.26%

Higher supplies from Millers maintain pressure on prices

Sugar prices fell by 0.26 per cent to Rs 3,057 per quintal in futures trade today as speculators trimmed positions amid higher supplies in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in October fell further by Rs 8, or 0.26 per cent, to Rs 3,057 per quintal with an open interest of 2,300 lots.

September sugar shed Rs 5, or 0.16 per cent, to Rs 3,044 per quintal in 14,110 lots.

Market analysts said higher supplies from millers kept pressure on sugar prices at futures trade.