Sugar down 0.27% on profit-booking

Ample supply led to the price fall

Sugar prices fell by Rs 9 per quintal to Rs 3,283 in futures trade today. Profit-booking and higher supplies in the markets pulled down the price.

At the National Commodity and Derivatives Exchange, the February contract declined by Rs 9, or 0.27%, to Rs 3,283 per quintal, with an open interest of 20,450 lots.

The January contract shed Rs 8, or 0.25% to Rs 3,252 per quintal, in an open interest of 23,250 lots.

Marketmen said the price came down due to reduced offtake by bulk consumers as demand usually declines during winter amid adequate supply in the spot markets.