Supported by pick up in seasonal demand form bulk consumers and retailers, sugar prices rose 1.11 per cent to Rs 2,369 per quintal in futures trade today as speculators widened positions.
However, adequate stocks position on higher supplies from millers capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in October month rose Rs 26, or 1.11 per cent to Rs 2,369 per quintal with an open interest 50,790 lots.
Likewise, the sweetener for delivery in December contracts
moved up by Rs 16, or 0.68 per cent to Rs 2,375 per quintal in 42,210 lots.
Analysts attributed the rise in sugar futures to on the back of festive season demand in the spot market, driven but ample stocks position on higher supplies from millers restricted the gains.
