Sugar futures rose by 0.14% to Rs 2,928 per quintal today on the National Commodity and Derivatives Exchange (NCDEX), as speculators created positions on expectations that the government might allow more exports.
However, ample supplies and sluggish demand in the spot markets, capped the gains.
At the NCDEX, April sugar rose by Rs 4, or 0.14%, to Rs 2,928 per quintal, clocking a business turnover of 1,000 lots.
The January contract also edged higher by Re 1, or 0.04%, to Rs 2,805 per quintal in a turnover of 33,770 lots.
Analysts said fresh positions built-up by speculators on hopes that the government might allow addition sugar exports soon, supported the upside in prices at futures trade here.
