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Sugar prices moved up by 0.40% to Rs 2,734 per quintal in futures trade today after speculators due to pick up in demand in the spot market supported by ongoing wedding season.
However, ample supplies in the physical market capped the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in March rose by Rs 11, or 0.40% to Rs 2,734 per quintal with an open interest of 21,500 lots.
The sweetener for delivery in February also traded higher by Rs 10, or 0.37% to Rs 2,689 per quintal in 13,450 lots.
Analysts attributed the rise in sugar futures to pick-up demand in the spot markets supported by ongoing wedding season but ample supplies restricted the gains.
