Sugar futures extend losses on low demand, supply pressure

Continuing its yesterday's losses, sugar futures further shed 0.33% to Rs 2,453 per quintal as speculators engaged in reducing their positions, driven by low demand from bulk consumers. 

At the National Commodity and Derivatives Exchange, sugar for delivery in June remained under pressure and fell by Rs 8, or 0.33%, to Rs 2,453 per quintal, with an open interest of 15,250 lots.

It had closed 0.20% down at Rs 2,461 per quintal in yesterday's trade.

However, the July contract remained flat at Rs 25,09 per quintal, with an open interest of 15,940 lots.  

Analysts said the persistent fall in sugar futures prices was mostly due to weak demand from bulk consumers at the spot markets against surplus supplies.