Sugar futures slide 0.23 per cent on ample supply

Trimming of positions by speculators following ample stocks at the spot market on persistent supplies from mills led to the fall

Sugar prices were down 0.23% to Rs 2,143 per quintal in futures trading today, dragged down by ample stocks following persistent supplies from millers.

Reports of higher output estimates this marketing year also kept pressure on sweetener prices.

At National Commodity and Derivatives Exchange, sugar for delivery in July shed Rs 5, or 0.23% to Rs 2,143 per quintal with an open interest of 26,630 lots.

Analysts said trimming of positions by speculators following ample stocks at the spot market on persistent supplies from mills, mainly led to the fall in sugar prices.