NEW DELHI, May 13: Sugar prices drifted by 0.39 per cent to Rs 3,037 per quintal in futures trade today as speculators trimmed positions amid sluggish demand in the spot market.
However, a likely drop in output restricted the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in June fell by Rs 12, or 0.39 per cent to Rs 3,037 per quintal with an open interest of 55,950 lots.
The sweetner for delivery in July contracts also declined by Rs 10, or 0.33 per cent to Rs 3,058 per quintal in 16,400 lots.
Market analysts said besides sluggish demand in the spot market, adequate supplies from millers, put pressure on sugar prices at futures trade here. (PTI)
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