NEW DELHI, May 5: Amid increased profit-booking by speculators and subdued spot demand, sugar prices fell sharply by 1.11 per cent to Rs 3,838 per quintal in futures trading today.
However, a likely drop in output limited the losses.
At the National Commodity and Derivatives Exchange, sugar for delivery in May traded at Rs 44, or 1.11 per cent down at Rs 3,838 per quintal with an open interest of 65,470 lots.
Likewise, the sweetener for delivery in June fell by Rs 32, or 1.01 per cent, to Rs 3,144 per quintal in 31,420 lots.
Market analysts said besides profit-booking by speculators, subdued demand at spot markets put pressure on sugar futures prices but an estimated drop in output, capped the downside. (PTI)
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