Sugar prices spurted by 1.34 per cent to Rs 3,557 per quintal in futures trade today as traders enlarged positions, driven by upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in May surged by Rs 47, or 1.34 per cent to Rs 3,557 per quintal with an open interest of 1,32,250 lots.
Similarly, the sweetener for delivery in July went up by Rs 45, or 1.23 per cent to Rs 3,693 per quintal in 23,340 lots.
Analysts said participants increasing their bets on the back of rising demand from retailers as well as bulk consumers in the spot market, mainly led to an upward movement in sugar prices at futures trade.
