Sugar futures extend slide on sluggish demand

Sugar prices drifted further lower by 0.31 per cent to Rs 3,527 per quintal in futures trade today as participants engaged in reducing their positions amid fall in demand in the spot market against higher supplies from mills.
At the National Commodity and Derivatives Exchange, sugar for delivery in October was trading lower by Rs 11 or 0.31 per cent to Rs 3,527 per quintal with an open interest of 14,320 lots.
Analysts said trimming of positions by traders due to subdued demand from bulk consumers in the spot market against sufficient stocks position, mainly kept sweetener prices lower at futures trade.