Sugar recovers by 0.44% in futures trade

Sugar prices rose 0.44 per cent to Rs 2,951 per quintal in futures trade today as speculators created fresh positions on expectations of pick up in demand in the spot market ahead of festive season.
However, ample supplies from millers in the physical market limited the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in September rose by Rs 13, or 0.44 per cent to Rs 2,951 per quintal with an open interest of 5,360 lots.
Similarly, the sweetener for delivery in October edged up by Rs 2, or 0.10 per cent to Rs 2,926 per quintal in 5,350 lots.

Analysts attributed the rise in the sweetener prices to speculators enlarging positions on hope that demand may pick up in the coming festive season.