Sugar prices went marginally up by 0.19 per cent to Rs 2,164 per quintal in futures trade today, supported by covering-up of short positions by speculators.
However, adequate stock position on persistent supplies from millers and higher output estimates this marketing year, capped the rise in prices.
At National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in October month edged higher by Rs 4, or 0.19 per cent to Rs 2,164 per quintal with an open interest of 36,900 lots.
Similarly, the sweetener for delivery in July traded higher by Rs 3, or 0.14 per cent to Rs 2,122 per quintal in 33,340 lots.
Analysts attributed rise in sugar futures to covering-up of short positions by speculators but persistent supplies by mills and higher output estimates, capped the gains.
