NEW DELHI, July 2:Sugar futures fell by 0.27 per cent to Rs 2,185 per quintal today amidst mounting stocks at the spot markets following persistent supplies from millers.
Also, reports of higher output estimates this marketing year kept pressure on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in October month eased by 6, or 0.27 per cent to Rs 2,185 per quintal with an open interest of 40,640 lots.
Likewise, the sweetener for delivery in July contracts eased by Rs 5, or 0.23 per cent to Rs 2,136 per quintal in 25,930 lots.
Analysts said persistent fall in sugar prices at futures trade was mostly due to continued offloading of positions by speculators, triggered by persistent supplies from mills in the physical market. (PTI)
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