Sugar down by 0.2% on ample stocks

Sugar prices eased by 0.16% to Rs 3,176 per quintal in futures trade today as traders lightened their positions amid adequate stocks at the spot market on higher supplies from mills.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May declined by Rs 5, or 0.16% to Rs 3176 per quintal with an open interest of 57,590 lots.

Likewise, the sweetener for delivery in March contracts shed Rs 3, or 0.10% to Rs 3,067 per quintal in 1,11,180 lots.

Marketmen said trimming of positions by participants, driven by ample stocks position at the spot markets on higher supplies from mills, mainly led to the fall in sugar prices at the futures trade.