Sugar futures decline 0.52% on profit-booking

Sugar prices fell by 0.52% to Rs 3,077 per quintal in futures trading today as speculators indulged in booking profits at prevailing levels.

 

Besides, a steady trend at spot markets following adequate stocks position on increased supplies from mills also put pressure on sugar prices.

 

At the National Commodity and Derivatives Exchange, sugar for delivery in July declined by Rs 16, or 0.52% to Rs 3,077 per quintal with an open interest of 20,140 lots.

 

Similarly, the sweetener for delivery in August contract shed Rs 11, or 0.35% to Rs 3129 per quintal in 21,060 lots.

 

Analysts attributed the fall in sugar futures to profit- booking by speculators amid adequate stocks in the spot markets on increased supplies.