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Sugar up 0.1% on spot demand

Analysts said rising demand in the spot markets mainly supported the upside in sugar prices at futures trade

Press Trust of India New Delhi
Sugar futures traded a shade higher at Rs 2,808 per quintal speculators created fresh positions, triggered by a pick up in demand in spot markets.

However, ample supplies from mills in the physical market restricted the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in January rose by Rs 5, or 0.18%, to Rs 2,808 per quintal with an open interest of 24,360 lots.

Similarly, the sweetner for delivery in February traded higher by Rs 4, or 0.14%, to Rs 2,793 per quintal in 17,100 lots.

Analysts said rising demand in the spot markets mainly supported the upside in sugar prices at futures trade.

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First Published: Dec 30 2013 | 12:20 PM IST

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