Sugar remained firm and prices advanced by 1.44 per cent to Rs 2,461 per quintal in futures trading today as speculators widened positions on the back of strong demand from retailers and bulk consumers, driven by festive season.
However, adequate stocks positions on higher supplies from millers, capped the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in far-month December rose Rs 35, or 1.44 per cent to Rs 2,461 per quintal with an open interest of 43,700 lots.
On a similar lines, the sweetener for delivery in October contracts moved up by Rs 15, or 0.62 per cent to Rs 2,436 per quintal in 47,010 lots.
Analysts said strong demand from retailers and bulk consumers in the spot market for the festive season mainly kept sugar prices higher at futures trade.
