Sugar futures rebound 3 pc on spot demand

Sugar prices rebounded by 3 per cent to Rs 2,576 per quintal in futures trade today as speculators created fresh positions after demand picked up in the spot market.
However, adequate stocks position in the physical market on increased supplies from millers, capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in December were jumped up by Rs 75, or 3 per cent to Rs 2,576 per quintal with an open interest of 1,070 lots.
However, the sweetener for delivery in March next year declined by Rs 36, or 1.33 per cent to Rs 2,665 per quintal in 17,690 lots.

Market analysts said fresh positions were built-up by speculators after demand improved in the spot market but adequate supplies from millers restricted the rise.