Amid profit-booking by speculators and government's efforts to improve stocks in the spot market, sugar futures today fell by Rs 12 to Rs 3,432 per quintal as speculators trimmed positions.
At the National Commodity and Derivatives Exchange, sugar for delivery in September traded lower by Rs 12, or 0.35%, to Rs 3,432 per quintal, with an open interest of 28,460 lots.
October sugar shed Rs 13, or 0.37%, to Rs 3,475 per quintal, with an open interest of 20,670 lots.
Marketmen said the fall in sugar futures prices was due to the decline in spot market demand and the government's move to release additional 4.2 lakh tonne (LT) sugar in the open market earlier this month to control the sharp rise in its prices.
They, however, added that the concerns over drought in Maharashtra, which could trim production, restricted the losses.
