Sugar prices edged higher by Rs 21 to Rs 3,416 per quintal in futures trading today as participants indulged in widening their bets, driven by pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in May rose by Rs 21, or 0.62 per cent, to Rs 3,416 per quintal, with an open interest of 1,20,220 lots.
On similar lines, the sweetener for delivery in July edged up by Rs 19, or 0.54 per cent, to Rs 3,550 per quintal in 19,680 lots.
Analysts said raising of bets 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.
