Sugar up 0.6% on seasonal demand

Buoyed by summer season demand from bulk consumers and lower output reports, sugar prices rose by 0.67% to Rs 3,151 per quintal in futures trading today as speculators enlarged positions.

At the National Commodity and Derivatives Exchange, sugar for delivery in May added Rs 21, or 0.67% to Rs 3,151 per quintal with an open interest of 41,590 lots.

Also, the sweetener for delivery in April gained Rs 20, or 0.65% to Rs 3,066 per quintal in 33,400 lots.

Analysts attributed the persistent rise in sugar prices at futures trade to increased offtake by bulk consumers, driven by beginning of summer season.