Sugar futures remain up on strong demand

Continuing its rising streak for the third straight day, sugar prices gained another 0.14 per cent to Rs 3,490 per quintal at futures trade as participants widened their bets, driven by rising spot demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in December month moved up by Rs 5, or 0.14 per cent to Rs 3,490 per quintal with an open interest of 13,100 lots.
Analysts said increasing of positions by traders on the back of rising demand from bulk consumers and retailers in the spot market in view of festive season, mainly kept sugar prices higher at futures trade.