India : Sugar down by 0.2% on subdued demand

Sugar prices in India fell by 0.27% to Rs 3,003 per quintal in futures trade today as speculators trimmed their positions on sluggish spot market demand against ample supplies.

At the National Commodity and Derivatives Exchange, sugar for delivery in July declined by Rs 8, or 0.27%, to Rs 3003 per quintal with an open interest of 28,990 lots.

Similarly, sugar for delivery in August shed Rs 7, or 0.23%, to Rs 3,056 per quintal in 22,350 lots.

Market analysts said speculators trimmed their positions driven by sluggish demand in the spot markets against ample supplies from producing belts, mainly helped sugar prices to trade lower.

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