Amid profit booking by speculators after Wednesday’s gains, sugar futures prices fell by Rs 0.50 per cent to Rs 2,771 per quintal on Thursday.
Adequate stocks in the spot markets following increased supplies also put some pressure on the sweetener at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in April fell by Rs 14, or 0.50 per cent, to Rs 2,771 per quintal, with an open interest of 37,350 lots.
Similarly, sugar for delivery in May lost Rs 12, or 0.42 per cent, to Rs 2,853 per quintal, with a business volume of 14,120 lots.
Analysts attributed the fall in sugar prices to profit taking as it registered notable gains in yesterday’s trade after the government permitted export of up to 5 lakh tonnes sugar.