Uptick in spot demand lifts sugar futures by 0.22 pc

Sugar prices were up by 0.22 per cent to Rs 3,611 per quintal in futures trading today as speculators built up fresh positions amid pick-up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March rose by Rs 8, or 0.22 per cent to Rs 3,611 per quintal with an open interest of 4,020 lots.
Likewise, the sweetener for delivery in December edged up by Rs 5, or 0.15 per cent to Rs 3,408 per quintal in 5,150 lots.
Analysts said, building up of positions by speculators on the back of pick-up in demand at the spot markets mainly attributed the rise in sugar prices at futures trade.