Sugar futures traded marginally higher by 0.24 per cent at Rs 2,893 per quintal today as speculators increased their bets amid pick up in demand at the spot market supported by ongoing wedding and festive season.
However, adequate stocks on higher supplies from millers capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month March next year rose Rs 7, or 0.24 per cent, to Rs 2,893 per quintal with an open interest of 32,840 lots.
The sweetener for delivery in December contracts, however, held steady at Rs 2,775 per quintal in 54,320 lots.
Analysts attributed the rise in sugar prices in futures trade to improved demand from retailers as well as bulk consumers in the spot market supported by ongoing festive and wedding season.
