Sugar prices advanced by 0.98 per cent to Rs 3,386 per quintal in futures trade today as participants indulged in building up fresh positions, driven by pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month May rose by Rs 33 or 0.98 per cent to Rs 3,386 per quintal with an open interest of 1,20,670 lots.
On similar lines, the sweetener for delivery in March contracts was trading higher by Rs 23 or 0.70 per cent to Rs 3,286 per quintal in 21,860 lots.
Analysts said fresh positions built up by traders on the back of pick up in demand from retailers as well as bulk consumers in the spot market, mainly supported the upside in sugar prices at futures trade.
