Sugar futures slide 0.33 per cent on higher supply

Sugar prices fell 0.33 per cent to Rs 2,401 per quintal in futures trade today dragged down by higher supplies by mills in spot markets.

In futures trading, sugar for delivery in July month was down by Rs 8, or 0.33 per cent to Rs 2,401 per quintal with an open interest of 49,700 lots at the National Commodity and Derivatives Exchange.

Likewise, the sweetener for delivery in May contracts shed Rs 5, or 0.22 per cent to Rs 2,305 per quintal in 18,140 lots.

Analysts attributed fall in sugar prices at futures trade to persistent supplies by mills and reports of higher output but scattered summer season demand capped the fall.