Sugar futures up 0.83 pc on firm demand

Sugar prices recovered by 0.83 per cent to Rs 3,158 per quintal in futures market today as participants created fresh positions due to pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in March month rose by Rs 26, or 0.83 per cent, to Rs 3,158 per quintal with an open interest of 1,12,120 lots.

Likewise, the sweetener for delivery in May contracts traded higher by Rs 24, or 0.74 per cent, to Rs 3,271 per quintal in 50,670 lots.

Marketmen said fresh positions built up by traders after pick up in demand from retailers and bulk consumers in the spot market mainly led to the rise in sugar prices at futures trade.