Sugar up 0.5% on spot demand

Sweetener for delivery in December traded lower by 0.1%

Sugar prices rose by 0.52% to Rs 2,874 per quintal in futures trade today as speculators created fresh positions driven by a pickup in demand in spot markets.

However, higher supplies by millers in the market, restricted the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in November rose by Rs 15, or 0.52%, to Rs 2,874 per quintal with an open interest of 18,110 lots.

However, the sweetener for delivery in December traded lower by Rs 3, or 0.11%, to Rs 2,845 per quintal in 13,480 lots.

Market analysts attributed the rise in sugar prices at futures trade to fresh positions built up by speculators on rising demand in the spot markets.