Sugar prices went up by 0.81 per cent to Rs 3,609 per quintal in futures trading today as participants raised their bets, tracking an upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month July shot up by Rs 29, or 0.81 per cent to Rs 3,609 per quintal with an open interest of 26,890 lots.
Likewise, the sweetener for delivery in May contracts traded higher by Rs 26, or 0.75 per cent to Rs 3470 per quintal in 1,16,040 lots.
Analysts attributed the rise in sugar futures to uptick in demand from retailers as well as bulk consumers in the spot market amid pause in supplies from producing regions.
