Sugar futures down 0.25 pc on adequate stocks

Sugar prices moved down by 0.25 per cent to Rs 3,596 per quintal in futures market today as participants trimmed position, triggered by ample stocks at the spot market on increased supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in July fell by Rs 9, or 0.25 per cent to Rs 3,596 per quintal with an open interest of 31,480 lots.
Similarly, the sweetener for delivery in far-month October shed Rs 6, or 0.16 per cent to Rs 3,756 per quintal in 14,710 lots.
Analysts said offloading of positions by traders, driven by ample stocks on increased supplies in the physical market, mainly kept pressure on the sugar prices at futures trade.