Sugar futures extend losses, down 0.36% on ample stocks

Continuing its losing streak for the fourth straight day, sugar prices fell further by 0.36 per cent to Rs 7,182 per quintal in futures trade today as traders engaged in reducing their their positions, triggered by adequate stocks on higher supplies at spot markets against easing demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December month drifted lower by Rs 26, or 0.36 per cent to Rs 7,182 per quintal with an open interest of 3,625 lots.
Analysts said offloading of positions by participants, triggered by sufficient stocks position on higher supplies from mills in the physical market against muted demand from bulk consumers, kept sugar prices lower at futures trade.