Sugar falls by 0.5% on profit-booking; higher supply

Sugar futures slipped 0.49% to Rs 2,656 per quintal today as speculators locked-in gains at prevailing levels amid higher supplies from mills at spot market.

At National Commodity and Derivatives Exchange, sugar for delivery in far-month December eased Rs 13, or 0.49%, to Rs 2,656 per quintal with an open interest of 45,630 lots.

Likewise, the sweetener for delivery in October was trading Rs 11, or 0.42% down at Rs 2,600 per quintal in 25,950 lots.

Analysts attributed the fall in sugar prices at futures trade to profit-booking by speculators after recent gains amid pick up in supplies from mills at spot markets.