Sugar up 0.6% on spot demand, fall in output

Sweetner for delivery in March traded higher by 0.47%

Sugar prices gained 0.64% to Rs 2,851 per quintal in futures trade today as speculators created positions, triggered by a rise in demand in the spot market amid fall in output.

At the National Commodity and Derivatives Exchange, sugar for delivery in April rose by Rs 18, or 0.64% to Rs 2,851 per quintal with an open interest of 29,710 lots.

Likewise, the sweetner for delivery in March traded higher by Rs 13, or 0.47% to Rs 2782 per quintal in 25120 lots.

Market analysts attributed the rise in prices at futures trade to fresh positions created by speculators after the country's sugar output fell over 13% to 14.37 million tonnes so far this year on delayed crushing.