Sugar futures fell by 0.41% to Rs 2,669 per quintal today on continued off-loading of positions by speculators after the government released higher non-levy sugar quota for August.
However, an improvement in demand at the spot markets for the upcoming festivals limited the downside.
At the National Commodity and Derivatives Exchange, sugar for August delivery fell by Rs 11, or 0.41%, to Rs 2,669 per quintal, with an open interest of 45,420 lots.
Similarly, sugar for September delivery fell by Rs 7, or 0.26%, to Rs 2,723 per quintal, with an open interest of 18,920 lots.
Analysts said the sugar futures prices fell after the government allocated 19.25 lakh tonne of sugar for sale in the open market August, which is more than the July quota.
However, good spot markets demand for the upcoming festivals restricted the losses, they added.
