Sugar futures rise 0.25% on spot demand

Sugar prices rose by Rs 6 to Rs 2,425 per quintal in futures trade today largely supported by pick-up in summer season demand form bulk consumers at spot market.
However, adequate stocks position in the physical market following increased supplies from mills and reports of higher output, restricted the rise.
The exchange opened for the evening session as it remained closed in the morning for "Maharashtra Day".
At the National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in May rose by Rs 6 or 0.25 per cent to Rs 2,425 per quintal, with an open interest of 32,420 lots.

Similarly, sugar for delivery in far-month July edged higher by Rs 5 or 0.20 per cent to Rs 2,545 per quintal, in 28,080 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 gains, they said.
According to the Indian Sugar Mills Association (ISMA) India's sugar production has increased by 14.27 per cent to 27.37 million tonnes till April of the 2014-15 marketing year.