Sugar prices edged up by 0.25 per cent to Rs 3,178 per quintal in futures trade today as participants built up fresh position, supported by pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month rose by Rs 8, or 0.25 per cent to Rs 3,178 per quintal with an open interest of 58,110 lots.
Likewise, the sweetner for delivery in March contracts traded higher by Rs 7, or 0.23 per cent to Rs 3,070 per quintal in 1,11,700 lots.
The rise in sugar prices in futures trade was mostly attributed to pick up in demand from retailers as well as bulk consumers in the spot market, market analysts said.
They said however, adequate stocks position on higher supplies from mills restricted the rise.
