Buoyed by spot demand from bulk consumers and the government's decision to allow exports, sugar prices rose by 0.63% to Rs 3,023 per quintal in futures trade at the National Commodity and Derivatives Exchange (NCDEX) today.
At the NCDEX, sugar for delivery in December moved up by Rs 19, or 0.63%, to Rs 3,023 per quintal, with an open interest of 42,800 lots.
In a similar fashion, sugar for delivery in January gained Rs 13, or 0.44%, to Rs 2,982 per quintal, with an open interest of 16,650 lots.
Analysts said the rise in sugar futures prices was mostly attributed to strong demand from bulk consumers at the spot markets and the government's decision to allow exports.
