Sugar futures extend losses, down 0.46% on ample stocks

Continuing its losing streak for the third day, sugar prices were down 0.46 per cent to Rs 3,461 per quintal in futures market today as traders engaged in trimming their positions, triggered by adequate stocks position at spot market against weak demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December declined by Rs 16, or 0.46 per cent, to Rs 3,461 per quintal with an open interest of 14,060 lots.
Similarly, the sweetener for delivery in October contracts weakened by Rs 13, or 0.37 per cent, to Rs 3,460 per quintal in 17,260 lots.
Anlysts said offloading of positions by participants, triggered by ample stocks in the physical market against fall in demand from bulk consumers, kept sugar prices down at futures trade.

Besides, profit-booking at current levels too weighed on the sweetner prices, they added.