Sugar prices moved down by 0.55 per cent to Rs 2,880 per quintal in futures trade today as speculators indulged in offloading positions amidst ample supplies in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in October fell by Rs 16, or 0.55 per cent, to Rs 2,880 per quintal with an open interest of 4,420 lots.

In a similar fashion, the sweetener for delivery in December traded lower by Rs 11, or 0.39 per cent, to Rs 2,785 per quintal in 9,390 lots.

Market analysts said higher supplies from millers in the spot market mainly kept pressure on the sweetener prices at futures trade but festive season demand capped the losses.