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Sugar prices rose 0.28% to Rs 2,849 per quintal in futures market today as traders indulged in enlarging positions on expectations of a pick-up in demand in the spot market ahead of festive season.
However, adequate supplies from millers in the physical market, restricted the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December moved up by Rs 8, or 0.28%, to Rs 2,849 per quintal with an open interest of 6,320 lots.
Similarly, the sweetener for delivery in November gained Rs 7, or 0.24%, to Rs 2,890 per quintal in 5,530 lots.
Analysts attributed the rise in sweetener prices to enlarging of positions by speculators in anticipation of rise in demand before the festive season.
