Sugar futures extend losses on higher supply

Sugar prices dwindled by 0.57 per cent to Rs 2,249 per quintal as traders engaged in trimming position.
Further, slackened demand from bulk consumers weighed on sweetener prices.
At National Commodity and Derivatives Exchange, sugar for delivery in October was trading lower by Rs 13, or 0.57 per cent to Rs 2,249 per quintal with an open interest of 39,150 lots.
Likewise, the sweetener for delivery in July contracts shed Rs 6, or 0.28 per cent to Rs 2,117 per quintal in 15,470 lots.
Analysts attributed sustained fall in sugar prices at futures trade to mounting stocks in the market following persistent supplies from mills.

Higher output estimates against low demand from bulk consumers trade also kept the prices low.