Spot demand lifts sugar futures 0.61%

Sugar prices edged higher by 0.61 per cent to Rs 3,131 per quintal in futures trading today as participants built up fresh positions, driven by pick up in demand in the spot market.
However, adequate stocks position on higher supplies from mills restricted the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month moved up by Rs 19, or 0.61 per cent to Rs 3,131 per quintal with an open interest of 21,950 lots.
Similarly, the sweetener for delivery in March contracts edged higher by Rs 9, or 0.30 per cent to Rs 3,041 per quintal in 88,840 lots.

Analysts said traders built up fresh positions, supported by improved demand from retailers and bulk consumers, which led to rise in the sugar prices at the futures trade.