 "Sugar up 0.4% on spot demand")
Sugar prices traded higher by 0.41% to Rs 2,714 per quintal in futures trading today as speculators created fresh positions, driven by pick up in seasonal demand in the spot market.
However, ample supplies in the physical market restricted the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in March rose by Rs 11, or 0.41% to Rs 2714 per quintal with an open interest of 23040 lots.
Analysts said speculators created fresh positions after pick up demand in the spot markets following ongoing wedding season but ample supplies, limited the gains.
However, ample supplies in the physical market restricted the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in March rose by Rs 11, or 0.41% to Rs 2714 per quintal with an open interest of 23040 lots.
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Likewise, the sweetener for delivery in February edged up by Rs 6, or 0.23% to Rs 2670 per quintal in 15,000 lots.
Analysts said speculators created fresh positions after pick up demand in the spot markets following ongoing wedding season but ample supplies, limited the gains.