Sugar futures climb Rs 102/quintal as participants widen bet

Sugar prices spurted by Rs 102 to Rs 3,554 per quintal kgs in evening session at futures market today as speculators widened their bets amid restricted supplies from mills.
The exchange remained closed for the morning session on account of 'Ganesh Chatruthi'.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month jumped by Rs 102 or 2.95 per cent to Rs 3,554 per quintal with an open interest of 14,000 lots.
On similar lines, the sweetener for delivery in October contracts spurted by Rs 99 or 2.88 per cent to Rs 3,536 per quintal in 15,590 lots.

Analysts attributed the strong rally in sweetener prices at futures market to speculative positions built up by participants amid pause in supplies from mills.