Amid sluggish demand from bulk consumers and ample supplies in the spot market, sugar continued its slide for yet another day in futures trading on Monday with prices falling by 1.20 per cent to Rs 3,002 a quintal.
Market analysts said apart from fall in demand from bulk consumers, reports of pick-up in cane crushing in key producing regions and ample supplies in the spot market continued to put pressure on the sugar futures prices here.
At the Multi Commodity Exchange counter, sugar for delivery in January fell by Rs 38 or 1.20 per cent to Rs 3,002 a quintal, with an open interest of 33 lots.
Similarly, the delivery for February also traded Rs 34 or 1.11 per cent lower at Rs 3,041 a quintal, with a business turnover of 15 lots. Delivery in March fell by Rs 34, or 1.09 per cent to Rs 3,086 a quintal, with a turnover of three lots.