 "Uptick in demand lifts sugar futures by 0.79%")
Sugar prices moved up by 0.79% to Rs 3,685 per quintal in futures market today as traders widened their positions, tracking a firm trend at spot market on rising demand from retailers and bulk consumers.
In futures trading at the National Commodity and Derivatives Exchange, sugar for delivery in far-month July rose by Rs 29, or 0.79%, to Rs 3,685 per quintal, with an open interest of 29,260 lots.
On similar lines, the sweetener for delivery in May traded higher by Rs 25, or 0.71%, to Rs 3,542 per quintal in 1,09,710 lots.
Analysts attributed the gain in sugar futures to upsurge in demand from retailers as well as bulk consumers in the spot market.
In futures trading at the National Commodity and Derivatives Exchange, sugar for delivery in far-month July rose by Rs 29, or 0.79%, to Rs 3,685 per quintal, with an open interest of 29,260 lots.
On similar lines, the sweetener for delivery in May traded higher by Rs 25, or 0.71%, to Rs 3,542 per quintal in 1,09,710 lots.
Analysts attributed the gain in sugar futures to upsurge in demand from retailers as well as bulk consumers in the spot market.
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