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Sugar gains 0.29% in futures trade

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 12:53 AM IST

Buoyed by spot demand from bulk consumers and a delay in cane-crushing, sugar prices rose by 0.29% to Rs 2,768 per quintal in futures trade today.

However, a rise in supply in the market capped the gains.

At the National Commodity and Derivatives Exchange, December sugar moved up by Rs 8, or 0.29%, to Rs 2,768 per quintal, with an open interest for 11,750 lots.

The November contract also gained Rs 5, or 0.18%, to Rs 2,784 per quintal in 16,020 lots.

Medium sugar (M-30) was trading Rs 15 higher at Rs 2,921/3,061 per quintal in Mumbai's Vashi wholesale market yesterday.

Market analysts said besides strong spot demand, reports of delays in cane-crushing in key producing states supported the upside in sugar futures prices here.

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First Published: Nov 03 2011 | 10:53 AM IST

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