Sugar prices surged by 1.46 per cent to Rs 3,759 per quintal in futures trade today as speculators built up fresh positions, taking positive cues from spot market on pick-up in demand.
At the National Commodity and Derivatives Exchange, sugar for delivery in October shot up by Rs 54, or 1.46 per cent, to Rs 3,759 per quintal with an open interest of 20 lots.
Analysts said fresh positions created by participants on the back of uptick in demand in the physical market, driven by festive season amid pause in supplies from mills, mainly attributed the rise in sugar prices at futures trade.
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