 "Sugar gains by 1.1% on pick-up in demand")
Sugar prices moved up by 1.12% to Rs 2,526 per quintal in futures trade today after speculators created fresh positions amid pick-up in summer season demand at spot market.
However, adequate stocks position in the physical market on higher supplies from mills, limited the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in July went up by Rs 28, or 1.12%, to Rs 2,526 per quintal with an open interest of 17,250 lots.
Analysts attributed the rise in sugar futures to pick-up in summer season demand from bulk consumers such as ice-cream and soft drink makers but adequate supplies from mills, restricted the rise.
However, adequate stocks position in the physical market on higher supplies from mills, limited the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in July went up by Rs 28, or 1.12%, to Rs 2,526 per quintal with an open interest of 17,250 lots.
Also Read
Similarly, the sweetener for delivery in May traded up by Rs 23, or 0.95%, to Rs 2,441 per quintal in 37,900 lots.
Analysts attributed the rise in sugar futures to pick-up in summer season demand from bulk consumers such as ice-cream and soft drink makers but adequate supplies from mills, restricted the rise.