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Sugar prices rose by 0.33% to Rs 3,039 per quintal in futures trade today as speculators created fresh positions on pick-up in demand for the summer season.
Lower output in key manufacturing areas also supported the uptrend to some extent.
The country's sugar production declined by 8.5% to 19.38 million tonnes till March 15 of the current marketing year due to lower output in key producing states, according to industry body ISMA.
At the National Commodity and Derivatives Exchange, sugar for delivery in April rose by Rs 10, or 0.33%, to Rs 3,039 per quintal with an open interest of 36,540 lots.
Similarly, the sweetener for delivery in March gained Rs 7, or 0.23%, to Rs 3,107 per quintal in 47,020 lots.
Analysts attributed the rise in sugar prices at futures trade to fresh positions created by speculators on pick-up in demand for the summer season amid estimates of lower output.
