Sugar down 0.3% on ample supply

Sugar for delivery in August contract traded lower by 0.26%

Sugar prices slid 0.36% to Rs 3,018 per quintal in futures trade today as speculators reduced positions on the back of sluggish demand in the spot market against ample supplies.

At the National Commodity and Derivatives Exchange, sugar for delivery in September month declined by Rs 11, or 0.36% to Rs 3018 per quintal with open interest of 17140 lots.

Similarly, sugar for delivery in August contract traded lower by Rs 8, or 0.26% to Rs 3017 per quintal in 24770 lots.

Market analysts attributed the fall in sugar futures to ample supplies against sluggish demand in the spot market.