Sugar prices fall 1.03% on ample supply
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Amid ample supplies from mills and reduced offtake in the spot market, sugar prices fell by Rs 33 to Rs 3,156 per quintal in futures trading today on reduced offtake by speculators.
At the National Commodity and Derivatives Exchange, sugar for delivery in February fell by Rs 33, or 1.03 per cent to Rs 3156 per quintal with an open interest of 36420 lots.
The sweetener for delivery in March was also down by Rs 25, or 0.77 per cent to Rs 3,206 per quintal in 15,200 lots.
Market analysts attributed the fall in sugar futures to increased supplies from mills against reduced offtake in spot market
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