 "Festive seasonal buying pushes sugar up by 1.59%")
Sugar futures traded higher by 1.59 per cent to Rs 2,625 per quintal today as speculators widened positions, driven by pickup in demand in the spot market.
However, ample stocks in the spot markets on persistent supplies from millers, limited the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December was trading higher by Rs 41, or 1.59 per cent to Rs 2,625 per quintal with an open interest of 42,780 lots.
Analysts attributed the rise in sugar futures to uptick in demand in the spot market, particularly from bulk consumers, driven by ongoing festive and wedding season.
However, ample stocks in the spot markets on persistent supplies from millers, limited the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December was trading higher by Rs 41, or 1.59 per cent to Rs 2,625 per quintal with an open interest of 42,780 lots.
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October sugar rose Rs 34, or 1.34 per cent to Rs 2,564 per quintal in 25,790 lots.
Analysts attributed the rise in sugar futures to uptick in demand in the spot market, particularly from bulk consumers, driven by ongoing festive and wedding season.