Sugar future decline on profit booking

Sugar future traded down on NCDEX due to profit-booking by speculators. Also, huge ready stocks position in the market on persistent supplies from mills, reduced off take by stockists following slackened demand from bulk consumers, largely attributed fall in sugar prices in future trade. The contract for May delivery was trading at Rs 3049.00, down by 0.91% or Rs 28.00 from its previous closing of Rs 3077.00. The open interest of the contract stood at 51930.00 lots. The contract for June delivery was trading at Rs 3042.00, down by 0.23% or Rs 7.00 from its previous closing of Rs 3049.00. The open interest of the contract stood at 44490.00 lots on NCDEX.