Supported by a delay in cane crushing in sugar producing states, sugar futures prices rose marginally by 0.09% to Rs 3,296 per quintal as speculators enlarged positions.
However, weak demand in the spot markets on higher selling by mills following a government directive to them to sell 4 million tonne of sugar in the open market during October and November, limited the gains.
At the National Commodity and Derivatives Exchange, the December contract rose by Rs 3, or 0.09%, to Rs 3,296 per quintal, with an open interest of 36,250 lots.
The January contract rose by Rs 2, or 0.06%, to Rs 3,316 per quintal, with an open interest of 14,160 lots.
Marketmen attributed the rise in sugar futures prices to fresh positions created by speculators, driven by reports of a delay in cane crushing in key producing states due to farmers' demand for an increase in cane procurement prices.
