Sugar futures slide on ample stocks, low demand

Sugar prices fell by another 0.32 per cent to Rs 2,184 per quintal in futures trading today amid huge stocks in the physical market on persistent supplies from mills coupled with slackened demand.
Furthermore, higher output estimates this marketing year weighed on sugar prices.
At National Commodity and Derivatives Exchange, sugar for delivery in October was trading low by Rs 7, or 0.32 per cent, at Rs 2,185 per quintal with an open interest of 36,900 lots.
Similarly, the sweetener for delivery in July contracts shed Re one, or 0.05 per cent to Rs 2,130 per quintal in 36,240 lots.

Analysts attributed persistent fall in sugar prices to ample stocks at the spot markets following supply pressure from mills amid higher output estimates this marketing year.
Besides, low demand from bulk consumers also kept pressure on prices at futures trading.