This is the second in a series of papers on Poisson formalism for the cubic nonlinear Schrödinger equation with repulsive nonlinearity. In this paper we consider periodic potentials. The inverse spectral problem for the periodic auxiliary Dirac operator leads to a hyperelliptic Riemann surface $\G$. Using the spectral problem we introduce on this Riemann surface a meromorphic function $¶$. We call it the Weyl function, since it is closely related to the classical Weyl function discussed in the first paper. We show that the pair $(\G,¶)$ carries a natural Poisson structure. We call it the deformed Atiyah--Hitchin bracket. The Poisson bracket on the phase space is the image of the deformed Atiyah--Hitchin bracket under the inverse spectral transform.