Sugar up by 0.26% on spot demand

Market analysts said hopes that the demand will improve during festive season, helped the sweetener to trade higher

Sugar prices rose by Rs 8 to Rs 3,059 per quintal in futures trading today as speculators created fresh positions on expectations a rise in demand during festive season.

 

However, ample supplies position in the physical market restricted the gains.

 

At the National Commodity and Derivatives Exchange, sugar for delivery in August rose by Rs 8, or 0.26%, to Rs 3,059 per quintal with an open interest of 39,360 lots.

 

Similarly, the sweetener for delivery in September traded higher by similar margin to Rs 3,089 per quintal, in 17,800 lots.

 

Market analysts said hopes that the demand will improve during festive season, helped sweetener to trade higher in futures trading.