Sugar futures remain weak on low demand, ample stocks

Continuing its falling streak for the fourth day, sugar prices drifted lower by 0.14 per cent to Rs 3,462 per quintal in futures trade today as participants engaged in reducing positions, driven by easing demand in the spot market against sufficient stocks.
At the National Commodity and Derivatives Exchange, sugar for delivery in October month declined by Rs 5, or 0.14 per cent to Rs 3,462 per quintal with an open interest of 17,150 lots.
Likewise, the sweetner for delivery in December contracts weakened by Rs 2, or 0.06 per cent to Rs 3,460 per quintal in 14,190 lots.
Analysts said trimming of positions by traders owing to slackened demand from bulk consumers in the spot market against sufficient stocks position, kept sugar prices lower at futures trade.