 "Sugar up 1.3% on increased summer season demand")
Continuing its rising streak, sugar gained 1.37% to Rs 3,188 per quintal in futures trading today as speculators enlarging positions, driven by increased summer season demand and lower output estimates.
Increased offtake by ice-cream and softdrink makers also supported the uptrend.
At the National Commodity and Derivatives Exchange, sugar for delivery in April added Rs 43, or 1.37%, to Rs 3,188 per quintal with an open interest of 29,410 lots.
Analysts said continued rise in sugar prices at futures was mostly due to increased summer season demand, particularly from bulk consumers.
Increased offtake by ice-cream and softdrink makers also supported the uptrend.
At the National Commodity and Derivatives Exchange, sugar for delivery in April added Rs 43, or 1.37%, to Rs 3,188 per quintal with an open interest of 29,410 lots.
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Similarly, the sweetener for delivery in May gained Rs 33, or 1.04%, to Rs 3,201 per quintal in 39,290 lots.
Analysts said continued rise in sugar prices at futures was mostly due to increased summer season demand, particularly from bulk consumers.