Sugar up on 0.4% short-covering

Ample supplies in physical markets limted the gains

Sugar futures for April traded Rs 11, or 0.37%, higher at Rs 2,975 per quintal in 32,170 lots.

At the National Commodity and Derivatives Exchange (NCDEX), the far-month May contract gained Rs 10, or 0.33%, to Rs 3,014 per quintal in 23,290 lots.

Prices went up as speculators covered-up their short positions amid pick up in spot demand.

However, ample supplies in the physical markets following beginning of summer season, limited the upside.