Sugar futures slide 0.43 pc on ample supply

NEW DELHI: Sugar prices drifted by 0.43 per cent to Rs 2,761 per quintal in futures trading today on ample supply from mills against weak demand.

At the National Commodity and Derivatives Exchange, sugar for delivery in January slid by Rs 12, or 0.43 per cent, to Rs 2,761 per quintal with an open interest of 26,080 lots.

Likewise, the sweetener for delivery in February traded lower by Rs 4, or 0.14 per cent, to Rs 2,783 per quintal in 17,960 lots.

Analysts attributed the fall in sugar futures to higher supplies at spot market against low demand from bulk consumers such as ice-cream and soft-drink makers.