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Sugar futures gain 0.54% on pick up in demand

sugar

New Delhi: Sugar prices rose 0.54 per cent to Rs 2,414 per quintal in futures trade today as speculators enlarged positions, taking positive cues from spot market on pick up in demand from bulk consumers.

At the National Commodity and Derivatives Exchange, sugar for delivery in May month moved up by Rs 13, or 0.54 per cent to Rs 2,414 per quintal with an open interest of 37,530 lots.

Similarly, the sweetener for delivery in July contracts traded higher by Rs 13, or 0.53 per cent to Rs 2,482 per quintal in 10,950 lots.

Analysts said speculators enlarged positions on the back of pick up in demand from bulk consumers mainly attributed the rise in sugar prices at futures trade.

They said, however, adequate stocks position on higher supplies from mills restricted the rise.

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