Upsurge in demand lifts sugar futures by 1.23 pc

Sugar prices were trading higher by 1.23 per cent to Rs 3,870 per quintal in futures trading today as speculators built up fresh positions amid uptick in demand at the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March went up by Rs 47, or 1.23 per cent to Rs 3,870 per quintal with an open interest of 6,360 lots.

Analysts said building up of positions by traders due to pick-up in demand from bulk consumers as well as retailers at the spot markets mainly pushed up sugar prices at futures trade.