 "Sugar edges higher by 0.29% on wedding season demand")
Sugar prices gained marginally by 0.29 per cent to Rs 2,740 per quintal in futures trade today as speculators created fresh positions amidst pick-up in demand in the spot market in view of the ongoing wedding season.
However, ample supplies from millers capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December was up by Rs 8, or 0.29 per cent to Rs 2,740 per quintal with an open interest of 9,170 lots.
Market analysts said fresh positions built-up by speculators following improved demand in the spot market in view of wedding season mainly pushed up sugar prices but adequate supplies from millers restricted the rise.
However, ample supplies from millers capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December was up by Rs 8, or 0.29 per cent to Rs 2,740 per quintal with an open interest of 9,170 lots.
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However, the sweetener for delivery in March held steady at Rs 2,805 per quintal in 14,590 lots.
Market analysts said fresh positions built-up by speculators following improved demand in the spot market in view of wedding season mainly pushed up sugar prices but adequate supplies from millers restricted the rise.