Sugar prices gained 1.09% to Rs 3,067 per quintal in futures trade today as speculators enlarged their positions, driven by rising demand in the spot markets for the summer season.
Reports of lower output in key manufacturing areas in February also supported the uptrend.
At the National Commodity and Derivatives Exchange, sugar for delivery in April rose by Rs 33, or 1.09% to Rs 3,067 per quintal with an open interest of 35,120 lots.
Analysts attributed the rise in sugar prices at futures trade to an increased buying by speculators on the back of rising demand for the summer season amid estimates of lower output.
Reports of lower output in key manufacturing areas in February also supported the uptrend.
At the National Commodity and Derivatives Exchange, sugar for delivery in April rose by Rs 33, or 1.09% to Rs 3,067 per quintal with an open interest of 35,120 lots.
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Similarly, the sweetener for delivery in March traded higher by Rs 30, or 0.97% to Rs 3128 per quintal in 46,120 lots.
Analysts attributed the rise in sugar prices at futures trade to an increased buying by speculators on the back of rising demand for the summer season amid estimates of lower output.
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