Spot demand lifts sugar futures by 0.37%

Sugar prices rose by 0.37 per cent to Rs 2,431 per quintal in futures trading in evening session today as participants widened positions amid pick-up in demand in the spot market.
The exchange opened for the evening session as it remained closed in the morning for 'Ganesh Chaturthi'.
However, adequate stocks position in the physical market on higher supplies from millers, limited the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in October edged up by Rs 9, or 0.37 per cent, to Rs 2,431 per quintal with an open interest of 28,180 lots.
Similarly, the sweetener for delivery in December gained Rs 8, or 0.33 per cent, to Rs 2,461 per quintal in 43,350 lots.

Analysts said expanding of positions by traders following pick up in demand in the spot market mainly helped sugar prices to quote higher at futures trade.