Amid profit-booking by speculators, sugar futures traded 1.29% lower at Rs 2,674 per quintal today. However, spot demand for the upcoming festivals capped the losses.
At the National Commodity and Derivatives Exchange, sugar for August delivery fell by Rs 35, or 1.29%, to Rs 2,674 per quintal, with an open interest of 44,110 lots. It had ended 1.8% higher in the previous session.
September sugar shed by Rs 27, or 0.98%, to Rs 2,730 per quintal, with an open interest of 17,720 lots.
Analysts said the fall in sugar futures prices was mostly due to profit-booking by speculators at prevailing levels, but good demand at spot markets for the upcoming festivals, restricted the losses.