Sugar prices surged by 1.73 per cent to Rs 3,818 per quintal in futures market today as speculators built up fresh positions amid upsurge in demand at the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in March month shot up by Rs 65, or 1.73 per cent, to Rs 3,818 per quintal with an open interest of 4,950 lots.
Similarly, the sweetener for delivery in May traded higher by Rs 37, or 0.99 per cent, to Rs 3,790 per quintal in 50 lots.
Analysts said building up of positions by speculators following upsurge in demand from bulk consumers at the spot markets mainly pushed up sugar prices at futures trade.
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