Sugar futures prices rose by 0.22% to Rs 2,716 per quintal today as speculators created fresh positions after the government allowed additional exports of the sweetener and on expectations of pick-up in spot demand.
At the National Commodity and Derivatives Exchange, sugar for September delivery edged higher by Rs 6,or 0.22% to Rs 2,716 per quintal, with an open interest of 30,770 lots.
Similarly, the sweetener for October delivery gained Rs 2, or 0.07%, to Rs 2,772 per quintal, with an open interest of 3,180 lots.
Analysts attributed the rise in sugar futures prices to the government's decision of allowing additional export of five lakh tonne of sugar, which would increase the demand for the sweetener in the spot markets.
