Sugar prices moved up by 0.18 per cent to Rs 2,860 per quintal in futures trade today mostly supported by pick up in demand ahead of festive season.
However, adequate stocks positions following increased supplies from millers in the physical market, capped the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in October went up by Rs 5, or 0.18 per cent to Rs 2,860 per quintal with an open interest of 5,310 lots.
However, the sweetener for delivery in November contracts held steady at Rs 2767 per quintal in 8,890 lots.
Analysts attributed the rise in sugar prices to fresh positions built-up by speculators in anticipation of rise in demand in the coming festive season.
