Rising demand lifts sugar futures; up 0.64 per cent

Sugar prices rose further by 0.64 per cent to Rs 3,156 per quintal in futures trading today as traders indulged in enlarging their positions, tracking a firm trend at spot market on rising demand from retailers and bulk consumers.
However, adequate stocks on higher supplies from mills, capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in May month gained Rs 20, or 0.64 per cent to Rs 3,156 per quintal with an open interest of 91,320 lots.
Similarly, the sweetener for delivery in March contracts edged higher by Rs 17, or 0.53 per cent to Rs 3,228 per quintal in 25,270 lots.

Analysts said participants enlarging their holdings on the back of rising demand from retailers as well as bulk consumers in the spot market, mainly kept sugar prices higher at futures trade.