 "Sugar rises 0.52% on pick-up in demand")
Sugar prices recovered by 0.52 per cent to Rs 3,115 per quintal in futures trade today as speculators created fresh positions after demand in the spot markets picked up amid drop in output.
At the National Commodity and Derivatives Exchange, sugar for delivery in May moved up by Rs 16, or 0.52 per cent, to Rs 3,115 per quintal with an open interest of 17,910 lots.
The May contract traded marginally up by Rs 2, or 0.07 per cent, to Rs 3,033 per quintal in 51,670 lots.
Analysts said fresh positions built up by speculators, supported by an improvement in demand from bulk consumers in the spot markets, helped sugar prices to recover at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in May moved up by Rs 16, or 0.52 per cent, to Rs 3,115 per quintal with an open interest of 17,910 lots.
The May contract traded marginally up by Rs 2, or 0.07 per cent, to Rs 3,033 per quintal in 51,670 lots.
Analysts said fresh positions built up by speculators, supported by an improvement in demand from bulk consumers in the spot markets, helped sugar prices to recover at futures trade.
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