Sugar futures edge higher by 0.33% on spot demand

Sugar prices rose by 0.33 per cent to Rs 2,440 per quintal in futures trade today as speculators indulged in creating fresh positions amid pick-up in summer season demand form bulk consumers at spot markets.
However, adequate stocks position in the physical market on higher supplies from mills and reports of higher output, restricted the gains.
At the National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in October moved up by Rs 8, or 0.33 per cent, to Rs 2,440 per quintal with an open interest of 25,120 lots.
Likewise, the sweetener for delivery in July edged higher by Rs 4, or 0.17 per cent to Rs 2,374 per quintal in 50,650 lots.

Analysts attributed the rise in sugar futures to pick-up in summer season demand from bulk consumers, including ice-cream and soft drink makers but ample stocks in the market on persistent supplies by mills and higher output reports, capped the rise.