Sugar futures soften by 0.29% on profit-booking

Sugar prices retreated by 0.29 per cent to Rs 3,121 per quintal in futures trade today as traders booked profits at prevailing levels.
Besides, adequate stocks in the physical markets due to higher supplies from millers weighed on the sweetener prices.
At the National Commodity and Derivatives Exchange, sugar for delivery in March month fell by Rs 9, or 0.29 per cent to Rs 3,121 per quintal with an open interest of 92,550 lots.
Likewise, the sweetener for delivery in May contracts traded lower by Rs 6, or 0.19 per cent to Rs 3,234 per quintal in 70,700 lots.
Analysts said the fall in sweetener prices at futures trade was mostly due to profit-booking by participants at current levels against adequate stocks on higher supplies from mills.