 "Sugar prices up by 1.5% on spot demand")
Sugar prices spurted by 1.52% to Rs 3,275 per quintal in futures trading today as traders widened positions driven by upsurge in demand at the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in March shot up by Rs 49, or 1.52%, to Rs 3,275 per quintal, with an open interest of 1,06,710 lots.
Similarly, the sweetener for delivery in May traded higher by Rs 47, or 1.42%, to Rs 3,363 per quintal in 34,400 lots.
Analysts said participants built up fresh positions, triggered by pick up in demand from retailers and bulk consumers in the spot market mainly attributed rise in sugar prices at futures trade.
At the National Commodity and Derivatives Exchange, sugar for delivery in March shot up by Rs 49, or 1.52%, to Rs 3,275 per quintal, with an open interest of 1,06,710 lots.
Similarly, the sweetener for delivery in May traded higher by Rs 47, or 1.42%, to Rs 3,363 per quintal in 34,400 lots.
Analysts said participants built up fresh positions, triggered by pick up in demand from retailers and bulk consumers in the spot market mainly attributed rise in sugar prices at futures trade.