Sugar futures trade lower on subdued demand

Sugar futures traded down on NCDEX as need-based local demand the activities remained subdued. Moreover, due to absence of upcountry demand producers sold the commodity in local markets resulting in enough supply, which also impacted the sentiments. The contract for June delivery was trading at Rs 3012.00, down by 0.33% or Rs 10.00 from its previous closing of Rs 3022.00. The open interest of the contract stood at 51400.00 lots. The contract for July delivery was trading at Rs 3010.00, down by 0.27% or Rs 8.00 from its previous closing of Rs 3018.00. The open interest of the contract stood at 23570.00 lots on NCDEX.