Sugar futures gain 0.86 pc on spot demand

Supported by rising demand in the spot markets, sugar prices edged up by 0.86 per cent to Rs 2,825 per quintal in futures trading today as speculators created fresh positions.

However, ample supplies from millers capped the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December rose by Rs 24, or 0.86 per cent to Rs 2,825 per quintal with an open interest of 6,190 lots.

Likewise, the sweetener for delivery in October traded higher by Rs 2, or 0.07 per cent to Rs 2,830 per quintal in 6,010 lots.

Analysts attributed the rise in the sweetener prices to speculators enlarging positions on the back of pick up in demand in the spot markets.