Sugar futures decline by Rs 12 on profit-booking

Amid profit-booking by speculators at prevailing levels, sugar prices were down by Rs 12 to Rs 3,206 per quintal in futures trading today.
Besides, fall in demand at current levels in the spot markets following higher supplies from millers too weighed on the sweetener prices.
At the National Commodity and Derivatives Exchange, sugar for delivery in March fell by Rs 12, or 0.38 per cent to Rs 3,206 per quintal with an open interest of 1,12,420 lots.
Likewise, the sweetener for delivery in far-month May shed Rs 10, or 0.30 per cent to Rs 3,300 per quintal in 32,680 lots.

Analysts said the fall in sweetener prices at futures trade was mostly due to profit-booking by traders at current levels and pick up in supplies from mills.