India sugar futures lower on profit-taking

MUMBAI, Sept 30 (Reuters) - Indian sugar futures were trading lower on Tuesday on profit-taking after gains in the previous session, analysts said.

Analysts, however, said the fundamentals remain positive after the government on Monday allowed more time to millers to sell sugar from September quota, analysts said.

The industry had sought the extension, which was to end on Sept. 30, to support prices of the sweetener, which fell more than 8 percent in early September.

At 11:16 a.m, Sugar November futures NSMX8 contract was at 1,820 rupees per 100 kg, down 0.44 percent on the National Commodity and Derivatives Exchange.