Buoyed by pick-up in summer season demand from bulk consumers, sugar prices rose by 0.29% to Rs 2,723 per quintal in futures trade today, but higher supplies restricted gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in May traded Rs 8, or 0.29% higher at Rs 2,723 per quintal, with an open interest of 39,480 lots.
Similarly, sugar futures prices for delivery in June rose by Rs 6, or 0.22% to Rs 2,770 per quintal, with a business turnover of 21,320 lots.
Analysts said pick-up in demand, particularly from ice-cream and cold-drink makers, which typically goes up during the summer months, helped sugar to trade higher at futures trade.
However, higher supplies in the spot market limited the gains, they added.
