Sugar futures rise 0.92 pc on spot demand

Sugar prices moved up by 0.92 per cent to Rs 2,851 per quintal in futures trade today as speculators created fresh positions amidst improved demand in the spot market.

However, adequate stocks position in the physical market on increased supplies from producing belts restricted the rise.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May month rose by Rs 26, or 0.92 per cent to Rs 2,851 per quintal with an open interest of 8,950 lots.

Similarly, the sweetner for delivery in March contracts edged up by Rs 4, or 0.15 per cent to Rs 2,758 per quintal in 22,180 lots.
 

Market analysts said fresh positions built up by speculators following rising demand in the spot market mainly influenced sugar prices at futures trade.