Sugar futures today fell by Rs 11 to Rs 3,331 per quintal as speculators booked profits amid government's pressure on mills to sell entire allocated quota for October and November in the open market.
At the National Commodity and Derivatives Exchange, sugar for delivery in November traded lower by Rs 11, or 0.30%, to Rs 3,331 per quintal, with an open interest of 33,530 lots.
December sugar shed Rs 10, or 0.28%, to Rs 3,305 per quintal, with a turnover of 16,340 lots.
At the Kolhapur spot market in Maharashtra, sugar fell by Rs 5 to Rs 3,545 per 100 kg in yesterday's trade.
Marketmen said the fall in sugar futures prices was mostly due to off-loading of positions by speculators after the government said yesterday it is keeping a close watch on sugar sales by millers in the open market and warned against failure to sell the entire quota allocated to them for the October-November period.
