Sugar prices edged higher by 0.26 per cent to Rs 3,518 per quintal in futures market today as traders enlarged their bets, triggered by upsurge in demand from bulk consumers at spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month July went up by Rs 9, or 0.26 per cent, to Rs 3,518 per quintal, with an open interest of 51,780 lots.
Likewise, the sweetener for delivery in May was trading higher by Rs 6, or 0.18 per cent higher, at Rs 3,291 per quintal in 16,870 lots.
Analysts attributed the rise in sugar futures to ongoing summer season demand from bulk consumers as well as retailers in the spot market in view of summer season.
