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Sugar prices recovered by 0.85% to Rs 3,095 per quintal in futures trading today as speculators created fresh positions amid a likely drop in output.
However, sluggish demand from bulk consumers, limited the gains.
At the National Commodity and Derivatives Exchange (NCDEX), the June contract traded Rs 26, or 0.85%, higher at Rs 3,095 per quintal in 5,390 lots.
The July contract recovered by Rs 20, or 0.65%, to Rs 3,120 per quintal in 23,780 lots.
Market analysts attributed the recovery in sugar prices at futures to fresh positions created by speuclators amid a likely fall in production next year and expectations of a rise in import duty but subdued demand from bulk consumers,limited the gains.
