Sugar futures down 0.69% on profit-booking, ample stocks

Sugar drifted 0.69 per cent to Rs 2,300 per quintal in futures trading today as speculators locked-in gains amid ample stocks at spot market on higher supplies from mills.

At National Commodity and Derivatives Exchange, sugar for delivery in October declined by Rs 16, or 0.69 per cent to Rs 2,300 per quintal with an open interest of 54,970 lots.

Similarly, the sweetener for December contracts eased by Rs 12, or 0.52 per cent to Rs 2,316 per quintal in 34,150 lots.

Analysts attributed the fall in sugar prices to profit-booking by participants and adequate stocks position at the spot market on higher supplies from mills.