Sugar prices were up 0.89 per cent to Rs 2,716 per quintal in futures market today as speculators created fresh positions after pick up in demand in the spot market supported by the ongoing wedding season.
At the National Commodity and Derivatives Exchange, sugar for delivery in December month rose by Rs 24, or 0.89 per cent to Rs 2,716 per quintal with an open interest of 54,490 lots.
Likewise, the sweetener for delivery in far-month March next year moved up by Rs 20, or 0.71 per cent to Rs 2,844 per quintal in 46,490 lots.
Analysts attributed the rise in sugar prices in futures trade to improved demand from retailers as well as bulk consumers in view of the ongoing wedding season.
