Sugar futures higher by 0.17% on spot demand

Sugar prices were marginally up by 0.17 per cent to Rs 2,320 per quintal in futures trade today amid pick-up in demand from bulk consumers as well as retailers.
However, adequate stock position in the physical market on persistent supplies by mills and reports of higher output this marketing year capped the rise.
At the National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in October edged up by Rs 4, or 0.17 per cent to Rs 2,320 per quintal with an open interest of 32,060 lots.
Likewise, the sweetener for delivery in July contracts traded higher by Rs 2, or 0.09 per cent to Rs 2,247 per quintal in 48,310 lots.

Analysts said fresh positions built up by speculators due to pick-up in summer season demand from bulk consumers mainly pushed up sugar prices in futures trade.