NEW DELHI, May 16: Sugar prices moved down by 0.50 per cent to Rs 3,015 per quintal in futures trading today as speculators trimmed positions amid subdued demand in the spot market against higher supplies.
However, a likely drop in output limited the fall.
At the National Commodity and Derivatives Exchange, sugar for delivery in July declined by Rs 15, or 0.50 per cent, to Rs 3,015 per quintal with an open interest of 21,190 lots.
Likewise, the sweetener for delivery in June shed Rs 13, or 0.43 per cent, to Rs 3,015 per quintal in 53,100 lots.
Market analysts said offloading of positions by speculators, triggered by subdued demand in the spot market against higher supplies from producing regions, mainly weighed on sugar prices at futures trade here. (PTI)
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