Sugar futures down 1.27% on low demand

NEW DELHI: Sugar prices moved down by 1.27 per cent to Rs 3,585 per quintal in futures market today as speculators cut down their positions, tracking a weak trend at spot market on easing demand against adequate stocks position.

At the National Commodity and Derivatives Exchange, sugar for delivery in October fell by Rs 46 or 1.27 per cent to Rs 3,585 per quintal with an open interest of 12,550 lots.

Similarly, the sweetener for delivery in December contracts traded lower by Rs 44 or 1.19 per cent to Rs 3,669 per quintal in 14,750 lots.

Analysts attributed the fall in sweetener prices at futures trade to lower demand from bulk consumers in the spot market against ample stocks position.