Sugar up by 0.4% on uptick in demand

Sugar prices were up by 0.39% to Rs 3,570 per quintal in futures trade today as participants enlarged their positions amid upsurge in demand from bulk consumers in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in July moved up by Rs 14 or 0.39% to Rs 3,570 per quintal with an open interest of 42,570 lots.

Similarly, the sweetener for delivery in far-month October was trading higher by Rs 4 or 0.11% to Rs 3,672 per quintal in 7,930 lots.

Analysts said traders enlarged positions due to pick up in demand from bulk consumer in the spot market mainly led to the rise in sweetener prices at futures trade.