Sugar weakens marginally on profit-booking

Increased supplies influence prices

Amid profit-booking at higher levels by speculators and increased supplies into the spot markets, sugar prices traded lower by Rs 6 to Rs 3,309 per quintal in futures trade today.

At the National Commodity and Derivatives Exchange, sugar for delivery in December declined by Rs 6, or 0.18%, to Rs 3,309 per quintal, with an open interest of 28,220 lots.

January sugar shed Rs 3, or 0.09%, to Rs 3,325 per quintal, with an open interest of 9,140 lots.

Marketmen said decline in sugar futures prices was due to profit-booking by speculators and increased supplies in the spot market.