Sugar down 0.1% on ample stocks

Commodity for delivery in March contracts traded lower by 0.08%

Sugar futures remained weak and prices shed upto 0.15% today as speculators indulged in trimming exposures amid higher supplies from mills and subdued demand.

At the National Commodity and Derivatives Exchange, sugar for delivery in May month fell further by Rs 4, or 0.15% to Rs 2,710 per quintal with an open interest of 28,130 lots.

Likewise, the sweetener for delivery in March contracts traded lower by Rs 2, or 0.08% to Rs 2,608 per quintal in 22,500 lots.

Market analysts said offloading of positions by speculators, driven by persistent supplies from millers in the physical markets, mainly kept pressure on sugar prices at futures trade.