Sugar prices recovered by Rs 12 to Rs 2,843 per quintal in futures trade today as speculators enlarged their positions on the back of increased demand from bulk consumers at spot markets.
However, higher output and a weakening trend in the overseas markets restricted gains.
At the National Commodity and Derivatives Exchange, sugar for June delivery traded
Rs 12, or 0.42%, higher at Rs 2,843 per quintal, with an open interest for 26,990 lots.
The July contract also showed strength and gained Rs 11, or 0.39%, to Rs 2,865 per quintal with an open interest of 13,320 lots.
Analysts attributed the rise in sugar futures to speculators building-up positions, driven by a pick up in demand from bulk consumers, but supply pressure on higher output reports limited the gains.
