Sugar futures slide 0.40 pc on low demand, adequate stocks

Sugar prices were down by 0.40 per cent to Rs 3,734 per quintal in futures market today as speculators cut down their positions amid easing demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, sugar for delivery in October fell Rs 15, or 0.40 per cent to Rs 3,734 per quintal with an open interest of 25,370 lots.
Similarly, the sweetener for delivery in far-month December shed Rs 3, or 0.08 per cent to Rs 3,746 per quintal in 13,570 lots.
Analysts attributed the fall in sweetener prices at futures trading to sluggish demand from bulk consumers in the spot market against ample stocks position.