 "Sugar falls over 1% on profit-booking")
Sugar prices fell sharply by 1.11 per cent to Rs 3,838 per quintal in futures trading today, amid increased profit-booking by speculators and subdued spot demand.
However, a likely drop in output limited the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in May lost Rs 44, or 1.11 per cent at Rs 3,838 per quintal with an open interest of 65,470 lots.
Market analysts said besides profit-booking by speculators, subdued demand at spot markets put pressure on sugar futures prices but an estimated drop in output, capped the downside.
However, a likely drop in output limited the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in May lost Rs 44, or 1.11 per cent at Rs 3,838 per quintal with an open interest of 65,470 lots.
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The June contract shed Rs 32, or 1.01 per cent, to Rs 3,144 per quintal in 31,420 lots.
Market analysts said besides profit-booking by speculators, subdued demand at spot markets put pressure on sugar futures prices but an estimated drop in output, capped the downside.