 "Sugar up by 0.4% on pick up in demand")
Rising for the third straight day, sugar prices added another 0.45% to Rs 2,912 per quintal in futures trading today as speculators engaged in enlarging their positions, driven by surging demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March next year gained Rs 13, or 0.45% to Rs 2,912 per quintal with an open interest of 79,050 lots.
In a similar fashion, the sweetener for delivery in December contracts traded higher by Rs 7, or 0.25% to Rs 2,758 per quintal in 52,130 lots.
They said, however, adequate stocks position on higher supplies from producing regions, capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March next year gained Rs 13, or 0.45% to Rs 2,912 per quintal with an open interest of 79,050 lots.
In a similar fashion, the sweetener for delivery in December contracts traded higher by Rs 7, or 0.25% to Rs 2,758 per quintal in 52,130 lots.
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Analysts said participants increasing their positions on the back of rising demand from retailers and bulk consumers supported by ongoing wedding season mainly kept sugar prices higher at futures trade.
They said, however, adequate stocks position on higher supplies from producing regions, capped the rise.