Sugar down by 0.1% on ample stocks

Sugar prices were down by 0.15% to Rs 3,329 per quintal in futures trade today as participants lightened their positions, triggered by adequate stocks at the spot market on higher supplies from mills.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May shed Rs 5, or 0.15% to Rs 3,329 per quintal with an open interest of 1,14,390 lots.

Similarly, the sweetener for delivery in March was trading lower by Rs 4, or 0.12% to Rs 3,212 per quintal in 56,880 lots.

Analysts said offloading of positions by traders, driven by adequate stocks position on higher supplies from mills, mainly led to the decline in sugar prices at the futures trade.