 "Sugar up 0.4% as demand picks up")
Sugar prices moved up by 0.45% to Rs 2,871 per quintal in futures trading today as speculators enlarged positions amid pick up in demand in the spot market supported by ongoing marriage season.
At the National Commodity and Derivatives Exchange, sugar for delivery in January rose by Rs 13, or 0.45%, to Rs 2,871 per quintal with an open interest of 20,240 lots.
Similarly, the sweetener for delivery in December gained Rs 10, or 0.35%, to Rs 2,877 per quintal in 12,000 lots.
Market analysts said speculators enlarged positions due to pick up in demand in the spot market supported by ongoing marriage season which led to rise in sugar prices at futures trade.
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