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Sugar futures prices fell further by 0.22 per cent today, extending the previous session losses, as speculators were reluctant to enlarge positions amid low demand in the physical markets.
However, restricted supplies from millers, anticipating price rise following the government’s decision to allow exports, limited the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in April traded lower by Rs 6 or 0.22 per cent at Rs 2,771 per quintal with an open interest of 37,910 lots. It had ended 0.28 per cent lower at Rs 2,777 per quintal on Thursday.
Similarly, May contract shed Rs 4 or 0.14 per cent to Rs 2,853 per quintal with a business volume of 13,760 lots.
Analysts said the demand, which usually remains weak in the spot markets due to month-end, mainly kept the pressure at the futures trade here. However, limited supplies by millers on hopes of better prices, restricted the losses, they added.
Meanwhile, in Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety remained steady at Rs 2,703 per quintal on Thursday.
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