Sugar up 0.2% on spot demand

Sugar prices rose 0.23% to Rs 3,073 per quintal in futures trade today as speculators created fresh positions on festive season demand in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in September rose by Rs 7, or 0.23%, to Rs 3,073 per quintal with an open interest of 8,470 lots.

Similarly, the sweetener for delivery in August traded higher by Rs 6, or 0.20%, to Rs 3,038 per quintal in 18,690 lots.

Analysts said the rise in the sugar prices was mostly attributed to pick-up in demand in the spot market amid festive season demand.