Spot demand lifts sugar prices at futures trade

Sugar prices were up by 0.33 per cent to Rs 2,427 per quintal in futures trading today as participants indulged in widening positions amid rising demand in the spot market.
However, adequate stocks position in the physical market on higher supplies from millers, capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in October edged higher by Rs 8, or 0.33 per cent, to Rs 2,427 per quintal with an open interest of 28,350 lots.
Similarly, the sweetener for delivery in December traded higher by a similar margin to Rs 2,457 per quintal in 42,820 lots.

Analysts said fresh positions built up by traders due to pick up in demand from bulk consumers in the spot market mainly led to rise in sugar prices at futures trade.