Sugar futures extend losses, down 1.57 pc

Continuing its slide for the third straight day, sugar prices fell further by 1.57 per cent to Rs 3,700 per quintal in futures market today as speculators engaged in trimming their positions amid sufficient stocks at spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in March next year fell by Rs 59 or 1.57 per cent to Rs 3,700 per quintal with an open interest of 2,820 lots.
Likewise, the sweetener for delivery in December contracts declined by Rs 46 or 1.30 per cent to Rs 3,486 per quintal in 14,400 lots.
Analysts said offloading of positions by participants, triggered by adequate stocks positions on higher supplies from mills in the physical market against low demand from bulk consumers kept sugar prices lower at futures trade.