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Sugar prices rose further by 0.11% to Rs 3,111 per quintal in futures trade today as speculators enlarged positions following increased summer season demand in the spot market against lower output estimates,.
At the National Commodity and Derivatives Exchange, sugar for delivery in April added Rs 11, or 0.35% to Rs 3,111 per quintal with an open interest of 31,630 lots.
Similarly, the sweetener for delivery in May contract gained Rs 7, or 0.22% to Rs 3,162 per quintal in 39,410 lots.
Analysts attributed the consistent rise in sugar prices at futures trade to increased buying by speculators, driven by increased summer season demand in the spot market.
