Sugar up 0.1% on spot demand

Sweetener for delivery in November edged up by 0.07%

Sugar prices rose by 0.17% to Rs 2,890 per quintal in futures trade today as speculators enlarged positions, supported by a rise in demand in the spot market due to festive season.

At the National Commodity and Derivatives Exchange, sugar for delivery in December rose by Rs 5, or 0.17%, to Rs 2,890 per quintal with an open interest of 10,080 lots.

Likewise, the sweetener for delivery in November edged up by Rs 2, or 0.07% to Rs 2,893 per quintal in 28,830 lots.

Market analysts said speculators enlarged their positions, supported by a rise in festive season demand mainly supported sugar prices at futures trade.