Amid profit-booking at higher levels by speculators and higher supplies, sugar futures prices today fell by Rs 23 to Rs 3,364 per quintal but strong festive season demand capped the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in November traded lower by Rs 23, or 0.68%, to Rs 3,364 per quintal, with an open interest of 40,220 lots.
The sweetener for delivery in December shed Rs 17, or 0.51%, to Rs 3,295 per quintal, with a turnover of 18,030 lots.
At Mumbai's Vashi wholesale market, medium sugar (M-30) traded Rs 10 higher at Rs 3,582/3,711 per quintal yesterday on festive season demand.
Marketmen said the fall in sugar futures prices was due to profit-booking by speculators and increased supplies in spot market after the government asked millers to sell four million tonnes of sugar in the open market during October and November.
