Sugar futures slide 0.48% on adequate stocks

Sugar prices drifted lower by 0.48 per cent to Rs 3,539 per quintal in futures trade today as speculators trimmed their positions, triggered by ample stocks position at spot market against muted demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December fell by Rs 17, or 0.48 per cent, to Rs 3,539 per quintal, with an open interest of 14,530 lots.
Analysts attributed the fall in sweetener prices at futures trade to sufficient stocks in the physical market following increased supplies from mills against subdued demand from bulk consumers.