NEW DELHI, Mar 12: Sugar prices fell further by Rs 9 to Rs 3,064 per quintal in futures trade today after speculators reduced their positions due to weak demand from bulk consumers against higher supplies in the spot markets.
At the National Commodity and Derivatives Exchange, sugar for delivery in April declined by Rs 9, or 0.29 per cent, to Rs 3,064 per quintal, with an open interest of 35,220 lots.
Similarly, the sweetener for delivery in March traded lower by Rs 7, or 0.22 per cent, to Rs 3,132 per quintal in 21,680 lots.
Market analysts said offloading of positions by speculators on higher supplies due to ongoing cane crushing amid weak demand in the spot market despite beginning of summer season, mainly kept pressure on sugar prices at futures trade. (PTI)
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