Sugar futures gain 0.33 per cent on spot demand

Sugar futures gained 0.33 per cent to Rs 3,056 per quintal in futures trading today as speculators created fresh positions on pick-up in demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in June gained Rs 10, or 0.33 per cent, to Rs 3,056 per quintal with an open interest of 25,010 lots.
In a similar fashion, the sweetener for delivery in July edged up by Rs 8, or 0.26 per cent, to Rs 3,053 per quintal in 29,720 lots.
Analysts said the rise in sugar prices was mostly supported by pick-up in demand from bulk consumers in the spot market.