Sugar futures weaken marginally on good stocks

NEW DELHI: Sugar prices eased by 0.07 per cent to Rs 2,747 per quintal in futures trade on the National Commodity and Derivatives Exchange today ( NCDEX) as speculators reduced holdings amid adequate stock position in the market.

The exchange opened for the evening session as it remained closed in the morning for 'Guru Nanak Jayanti'.

At the NCDEX, sugar for delivery in December month weakened by Rs 2, or 0.07 per cent, to Rs 2,747 per quintal with an open interest of 14,390 lots.

Market analysts said offloading of positions by speculators following adequate stocks on higher supplies from millers in the physical market mainly kept pressure on sugar prices at futures trade.

Besides, subdued demand in the spot markets following end of festive season put pressure on the sweetener's prices, they said.