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Spot demand lifts sugar futures by 1.67%

Press Trust of India  |  New Delhi 

Sugar prices rose by 1.67 per cent to Rs 3,525 per quintal in futures trading today as participants created fresh positions on the back of uptick in demand in the spot market, driven by festive season.

At the National Commodity and Derivatives Exchange, sugar for delivery in October month shot up by Rs 58, or 1.67 per cent to Rs 3,525 per quintal with an open interest of 1,470 lots.

Similarly, the sweetener for delivery in December contracts

traded higher by Rs 21, or 0.59 per cent to Rs 3,554 per quintal in 14,580 lots.

Analysts said building of positions by traders due to upsurge in demand from bulk consumers as well as retailers in the spot market in view of festive season, pushed up sugar prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 17:32 IST