Sugar futures slide 0.18% on ample stocks position

Sugar prices were down by 0.18 per cent to Rs 3,822 per quintal in futures trade today as speculators trimmed their positions, triggered by adequate stocks position at spot market against muted demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in March declined Rs 7, or 0.18 per cent, to Rs 3,822 per quintal with an open interest of 5,890 lots.
Analysts said offloading of positions by traders amid sufficient stocks position against subdued demand from bulk consumers at the spot market, mainly influenced the sugar prices at futures trade.