 "Sugar up 0.8% on spot demand")
Sugar prices gained 0.86% to Rs 2,831 per quintal in futures trading today as speculators built up fresh positions on the back of rise in demand in the spot market.
However, increased supplies restricted the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December rose by Rs 24, or 0.86%, to Rs 2,831 per quintal with an open interest of 11,510 lots.
Analysts said speculators built up fresh positions amid rising demand in the spot markets, driven by ongoing marriage season, which led to rise in sugar prices at futures trade.
However, increased supplies restricted the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December rose by Rs 24, or 0.86%, to Rs 2,831 per quintal with an open interest of 11,510 lots.
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Similarly, the sweetener for delivery in November gained Rs 17, or 0.58%, to Rs 2,951 per quintal in 6,720 lots.
Analysts said speculators built up fresh positions amid rising demand in the spot markets, driven by ongoing marriage season, which led to rise in sugar prices at futures trade.
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