Sugar futures climb 0.76% on pick up in demand

Analysts attributed rise in sugar futures to rising demand from retailers as well as bulk consumers in spot market

Sugar prices were up by 0.76% to Rs 3,565 per quintal in futures trade today as traders enlarged positions, driven by uptick in demand in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in May month rose by Rs 27 or 0.76% to Rs 3,565 per quintal with an open interest of 1,25,480 lots.

Similarly, the sweetener for delivery in July contracts gained Rs 23 or 0.63% to Rs 3,700 per quintal in 29,050 lots.

Analysts attributed the rise in sugar futures to rising demand from retailers as well as bulk consumers in the spot market.