Sugar futures slide 0.13% on ample stocks

Sugar prices eased by 0.13 per cent to Rs 3,740 per quintal in futures trading today as speculators trimmed their positions, triggered by adequate stocks position at spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in May shed Rs 5, or 0.13 per cent to Rs 3,740 per quintal with an open interest of 1,860 lots.
Analysts said offloading of positions by traders, driven by sufficient stocks position on increased supplies from mills in the physical market against lower demand from bulk consumers, mainly weighed on sugar prices at futures trade.