 "Sugar succumbs to profit-booking")
Sugar futures for May traded Rs 10, or 0.34%, lower at Rs 2,948 per quintal in 49,720 lots.
At the National Commodity and Derivatives Exchange (NCDEX), the April contract fell Rs 7, or 0.24% to Rs 2,894 per quintal after rising to Rs 2,894 in 9,680 lots.
Profit-booking by speculators and ample supplies in the spot market affected the trade.
In a major reform, the government last week had partially decontrolled the Rs 80,000-crore sugar sector by giving freedom to millers to sell in the open market and removed their obligation to supply the sweetener at subsidised rates to ration shops.
At the National Commodity and Derivatives Exchange (NCDEX), the April contract fell Rs 7, or 0.24% to Rs 2,894 per quintal after rising to Rs 2,894 in 9,680 lots.
Profit-booking by speculators and ample supplies in the spot market affected the trade.
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However, the government's decision to partially decontrol the sugar sector, limited the fall.
In a major reform, the government last week had partially decontrolled the Rs 80,000-crore sugar sector by giving freedom to millers to sell in the open market and removed their obligation to supply the sweetener at subsidised rates to ration shops.
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