Sugar futures prices fell by 0.23% to Rs 2,608 per quintal today as speculators reduced their positions to book profits even as summer season demand picked up in spot markets.
At the National Commodity and Derivatives Exchange, sugar for delivery in April lost Rs 6, or 0.23% to Rs 2,608 per quintal, with a business volume of 8,760 lots.
Similarly, sugar for delivery in May declined by Rs 2, or 0.07% to Rs 2,722 per quintal, with an open interest of 30,230 lots. It had ended 0.15% higher at Rs 2,724 per quintal in yesterday's trade.
Analysts attributed the fall in sugar prices to emergence of profit-booking by speculators after a few sessions of gain.
They added, rising summer season demand from bulk consumers prevented any major fall in the sugar futures prices.
Meanwhile, in Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety sugar rose by 0.3% to Rs 2,661 per quintal.