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Continuing yesterday’s losses, sugar futures further shed 0.33 per cent to Rs 2,453 per quintal as speculators engaged in reducing their positions driven by low demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in June remained under pressure and fell by Rs 8 or 0.33 per cent to Rs 2,453 per quintal with an open interest of 15,250 lots. It had closed 0.20 per cent down at Rs 2,461 per quintal in yesterday’s trade.
However, sugar for delivery in July remained flat at Rs 25,09 per quintal with an open interest of 15,940 lots.
Analysts said persistent fall in prices was mostly due to weak demand from bulk consumers at the spot markets against surplus supplies.
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