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Continuing its rising streak, sugar prices went up by another 0.50 per cent to Rs 3,205 per quintal in futures market today as speculators indulged in creating positions, supported by summer season demand from bulk consumers amid fall in production.
At the National Commodity and Derivatives Exchange, sugar for delivery in May gathered Rs 16, or 0.50 per cent, to Rs 3,205 per quintal with an open interest of 51,500 lots.
Analysts said apart from rising demand in the spot markets from bulk consumers, fall in sugar production supported the persistent rise in sweetner prices at futures trade.
The country's sugar production has dropped by 7 per cent to 21.5 million tonnes in the first six months of the current marketing year due to lower output in key producing states.
