 "Sugar rises by 2.2% on pick up in demand")
Sugar prices shot up by 2.22% to Rs 2,951 per quintal in futures trading today as strengthened their positions driven by by pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in December jumped Rs 64, or 2.22% to Rs 2,951 per quintal with an open interest of 38,010 lots.
Similarly, the sweetener for delivery in far-month March next year traded higher by Rs 51, or 1.71% to Rs 3,027 per quintal in 79,130 lots.
Analysts said traders built up fresh positions, triggered by pick up in demand from retailers and bulk consumers in view of wedding season mainly attributed rise in sugar prices at futures trade.
