NEW DELHI, May 27: Sugar prices declined by 0.53 per cent to Rs 2,981 per quintal in futures trading today as speculators reduced positions, tracking a weak trend at spot markets on sluggish demand against ample supplies.
At the National Commodity and Derivatives Exchange, sugar for delivery in June declined by Rs 16, or 0.53 per cent to Rs 2,981 per quintal with an open interest of 44,060 lots.
Similarly, the sweetner for July contracts sheded Rs 11, or 0.37 per cent to Rs 2,971 per quintal in 25,980 lots.
Analysts said besides weak demand in the spot market, ample supplies from millers, mainly led to decline in sugar prices at futures trade. (PTI)
Follow our WhatsApp channel