Sugar prices edged higher by 0.24 per cent to Rs 3,356 per quintal in futures trading today as participants indulged in building up positions, driven by pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May rose by Rs 8, or 0.24 per cent to Rs 3,356 per quintal with an open interest of 95,390 lots.
On similar lines, the sweetener for delivery in March edged up by Rs 7, or 0.22 per cent to Rs 3,240 per quintal in 63,150 lots.
Analysts said fresh positions built up by traders, supported by pick up in demand from retailers as well as bulk consumers in the spot market, mainly led to the rise in sugar prices at futures trade.
