Sugar futures today rose by Rs 22 to Rs 3,470 per quintal, largely supported by increased demand in the spot markets in view of festivals but higher supplies capped the gains.
At the National Commodity and Derivatives Exchange, sugar for October delivery traded Rs 22, or 0.64%, higher at Rs 3,470 per quintal, with an open interest for 16,280 lots.
October sugar traded higher by Rs 15, or 0.45%, at Rs 3,372 per quintal, with open interest of 21,790 lots.
Marketmen attributed the rise in sugar futures to fresh positions created by speculators, triggered by a strong demand for the festive season but higher supplies in the market limited the gains.
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