Supported by a pick-up in spot demand from bulk consumers and hopes of additional exports, sugar futures prices rose 0.07% to Rs 2,865 per quintal today.
However, adequate stocks in the market capped the gains.
At the National Commodity and Derivatives Exchange, sugar for May delivery traded Rs 2, or 0.07%, higher at Rs 2,865 per quintal, with an open interest for 45,200 lots.
The May contract also showed strength and gained Rs 1, or 0.03%, to Rs 2,931 per quintal, with an open interest of 19,650 lots.
Analysts attributed the rise in sugar futures to speculators enlarging positions, driven by a pick-up in summer season demand from bulk consumers in spot markets amid expectations that the government will allow additional exports of the sweetener.
However, adequate supplies on higher output, restricted the gains, they said.