 "Spot demand lifts sugar futures by 0.5%")
Supported by festive and wedding season demand, sugar prices rose 0.51% to Rs 2,736 per quintal in futures trade today as speculators built up positions.
However, adequate stocks on higher supplies from millers capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December rose by Rs 14, or 0.51%, to Rs 2,736 per quintal, with an open interest of 55,660 lots.
Likewise, the sweetener for delivery in far-month March next year gained Rs 10, or 0.35%, to Rs 2,861 per quintal in 37,950 lots.
Analysts attributed the rise in sugar prices in futures trade to improved demand from retailers as well as bulk consumers in view of ongoing festive and wedding season.
