Sugar falls 0.8% on profit-booking

Traders book profit on lower offtake, ample supplies from producing regions

Sugar prices fell by 0.80 per cent to Rs 2,729 per quintal in futures trading today as speculators booked profits at prevailing higher levels, driven by low demand in the spot market against ample supplies.
    
At the National Commodity and Derivatives Exchange, sugar for delivery in March fell by Rs 22, or 0.80 per cent to Rs 2,729 per quintal with an open interest of 19,670 lots.
    
The February contract lost Rs 6, or 0.22 per cent to Rs 2,703 per quintal in 8,320 lots.
    
Analysts attributed the fall in sugar futures to profit-booking by speculators at prevailing higher levels, driven by low demand in the spot market against ample supplies from producing region.