Sugar futures extend losses, down 0.63% on adequate stocks

Sugar remained weak for the second straight day and prices fell further by 0.63 per cent to Rs 3,463 per quintal in futures market today as participants engaged in reducing their positions, triggered by ample stocks position at spot market against lower demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in October month fell by Rs 22, or 0.63 per cent to Rs 3,463 per quintal with an open interest of 9,250 lots.
Analysts said trimming of positions by traders amid sufficient stocks position in the physical market against weak demand from bulk consumers, mainly kept sugar prices down at futures trade.