Sugar futures down 2.07% on profit-booking

Sugar prices plunged by 2.07 per cent to Rs 3,695 per quintal in futures trade today as participants booked profits at prevailing levels.

At the National Commodity and Derivatives Exchange, sugar for delivery in July month tumbled Rs 78, or 2.07 per cent to Rs 3,695 per quintal with an open interest of 28,110 lots.

Likewise, the sweetner for delivery in May contracts traded lower by Rs 72, or 1.98 per cent to Rs 3,564 per quintal in 1,24,080 lots.

Analysts said the fall in sweetener prices at futures trade was mostly due to profit-booking by traders at existing levels.