Sugar down 03% on adequate stocks

Adequate stocks in the physical market on persistent supplies from mills pulled down sugar prices

Sugar prices slid 0.37 per cent to Rs 2,126 per quintal in futures trade today on offloading of positions by speculators, triggered by adequate stocks at spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in July shed Rs 8, or 0.37 per cent to Rs 2,126 per quintal with an open interest of 25,530 lots.

Analysts said adequate stocks in the physical market on persistent supplies from mills against low demand from bulk consumers pulled down sugar prices in futures trade.