Sugar futures decline on lower demand

Sugar futures traded down on NCDEX due to profit-taking and lower demand from stockists and retailers amidst ample supplies. However, an estimated drop in production restricted the downside. The contract for May delivery was trading at Rs 3182.00, down by 1.12% or Rs 36.00 from its previous closing of Rs 3218.00. The open interest of the contract stood at 57990.00 lots. The contract for June delivery was trading at Rs 3205.00, down by 0.93% or Rs 30.00 from its previous closing of Rs 3235.00. The open interest of the contract stood at 27650.00 lots on NCDEX