Sugar futures fall 0.59% on sluggish demand

Sugar prices fell by 0.59 per cent to Rs 3,016 per quintal in futures trading today as speculators trimmed positions on the back of sluggish demand from bulk consumers in the spot market against increased supplies.

At the National Commodity and Derivatives Exchange, sugar for delivery in August month fell by Rs 18, or 0.59 per cent to Rs 3016 per quintal with an open interest of 34510 lots.

Similarly, the sweetener for delivery September contract traded lower by the same margin to Rs 3038 per quintal in 17710 lots.

Market analysts attributed the fall in sugar futures to increased supplies against subdued demand from bulk consumers.


X