Sugar futures fall 0.36% on adequate supply

NEW DELHI: Sugar prices drifted by 0.36 per cent to Rs 3,048 per quintal in futures trade today as speculators trimmed positions amid higher supplies in the spot market.

However, an ongoing festive season demand from bulk consumers, capped the losses.

At the National Commodity and Derivatives Exchange, sugar for delivery in September fell by Rs 11, or 0.36 per cent, to Rs 3,048 per quintal with an open interest of 14,760 lots.

The sweetener for delivery in October also declined by Rs 8, or 0.26 per cent, to Rs 3,060 per quintal in 2,290 lots.

Market analysts said adequate supplies from millers mainly put pressure on sugar prices at futures trade here but festive season demand form bulk consumers, restricted the losses.