Sugar futures extend slide, down 0.29 pc on ample stocks

Continuing its falling streak for the third day, sugar prices shed another 0.29 per cent to Rs 3,389 per quintal in futures market today as speculators engaged in trimming their positions, triggered by adequate stocks position at spot market against subdued demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December fell by Rs 10, or 0.29 per cent to Rs 3,389 per quintal with an open interest of 7,140 lots.
Analysts said offloading of positions by traders, triggered by sufficient stocks on higher supplies from mills in the physical market against sluggish demand from bulk consumers, mainly kept sugar prices lower at futures trade.