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Sugar futures down on poor demand,higher supply

Sugar futures today fell by Rs 25 to Rs 3,550 per quintal.

Written by Agencies | New Delhi | Published: September 24, 2012 4:09:52 pm

Sugar futures today fell by Rs 25 to Rs 3,550 per quintal as speculators trimmed positions amid weak spot demand and higher supplies.

At the National Commodity and Derivatives Exchange,sugar for delivery in October traded lower by Rs 33,or 2.17 per cent,to Rs 3,550 per quintal,with an open interest of 21,380 lots.

The sweetener for delivery in October shed Rs 24,or 0.67 per cent,to Rs 3,556 per quintal,in a turnover of 31,700 lots.

Marketmen said fall in sugar futures prices was mostly due to adequate stocks following higher supplies in the spot markets and forecasts of surplus output in the next season.

Besides,weak demand in spot markets,too put pressure on the prices.

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