Sugar futures gain 0.46 pc as demand picks up

Sugar prices were up by 0.46 per cent to Rs 2,390 per quintal in futures trade today as speculators created fresh positions, driven by rising demand at spot markets for the summer season.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month rose by Rs 11, or 0.46 per cent to Rs 2390 per quintal with an open interest of 38,280 lots.
Analysts attributed the rise in sugar prices at futures trade to fresh positions built up by speculators due to rise in demand for the summer season but adequate stocks position restricted the gain.