Sugar futures extend losses, down 0.36 pc on higher supply

Sugar remained weak for the second day and prices were down by 0.36 per cent to Rs 678.60 per quintal in futures trading today as speculators trimmed positions, triggered by higher supplies in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in September fell further by Rs 11, or 0.36 per cent to Rs 3,008 per quintal with an open interest of 10,940 lots.
Similarly, the sweetener for delivery in October traded lower by the same margin to Rs 3,031 per quintal in 3,310 lots.
Market analysts said higher supplies from millers mainly kept pressure on sugar prices at futures trade here but festive season demand from bulk consumers, limited the losses.