Sugar futures rise 0.25 pc on spot demand

Supported by pickup in summer season demand from bulk consumers, sugar prices were up by 0.25 per cent to Rs 2,413 per quintal in futures trade today as speculators created fresh positions.
However, adequate stocks position in the physical market following persistent supplies from mills and reports of higher output, capped the gains.
At the National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in July month rose by Rs 6, or 0.25 per cent to Rs 2,413 per quintal with an open interest of 47,680 lots.
Similarly, the sweetener for delivery in May contracts traded higher by Rs 2, or 0.09 per cent to Rs 2308 per quintal in 20,140 lots.

Analysts attributed the rise in sugar futures to pick-up in summer season demand from bulk consumers, including ice-cream and soft drink makers but ample stocks in the market on persistent supplies by mills and higher output reports capped the gains.