Sugar futures slide 0.49 pc on ample supply

Sugar prices continued to slide at futures trade and fell further by 0.49 per cent to Rs 2,815 per quintal largely on higher supplies in the spot market against low demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March 2015 fell Rs 14, or 0.49 per cent, to Rs 2,815 per quintal with an open interest of 13,630 lots.
Similarly, the sweetner for delivery in December contract traded lower by Rs 5, or 0.18 per cent to Rs 2,736 per quintal in 10,900 lots.
Market analysts said persistent fall in sugar prices at futures trade was mostly attributed to offloading of positions by speculators, triggered by rising supplies from mills against low demand from bulk consumers.