Sugar futures remain up on rising demand

Continuing its rising streak for the fourth straight day, sugar prices advanced by 0.64 per cent to Rs 3,144 per quintal in futures trading today as participants enlarged their position on the back of rising demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in March moved up by Rs 20 or 0.64 per cent to Rs 3,144 per quintal with an open interest of 1,01,880 lots.
Similarly, the sweetner for delivery in far-month May contract gained Rs 20 or 0.62 per cent to Rs 3,258 per quintal in 66,430 lots.
Analysts said traders enlarged positions, triggered by upsurge in demand from retailers and bulk consumers in the spot market mainly kept sugar prices higher at futures trade.