Sugar futures weaken on sluggish demand, higher supply

Amid subdued demand and higher supplies into the spot markets, sugar prices fell by Rs 15 to Rs 3,245 per quintal in futures trade today.

At the National Commodity and Derivatives Exchange, sugar prices for delivery in December declined by Rs 15, or 0.15 per cent, to Rs 3,245 per quintal, with an open interest of 3,950 lots.

The sweetener for delivery in January traded Rs 6, or 0.18 per cent lower at Rs 3,292 per quintal in an open interest of 31,630 lots.

Marketmen said decline in sugar futures prices was mostly due to fall in demand and higher supplies in the spot markets.

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