Sugar rises in futures trade on spot demand

Sugar futures prices rose by 0.32% to Rs 2,825 per quintal today as speculators created fresh positions, triggered by rising demand in the spot market in view of the ongoing festive season.

At the National Commodity and Derivatives Exchange, sugar for delivery in November edged higher by Rs 9, or 0.32% to Rs 2,825 per quintal, with an open interest for 1,020 lots.

Similarly, the sweetener for delivery in October gained Rs 5, or 0.18%, to Rs 2,787 per quintal, with an open interest for 5,860 lots.

Analysts attributed the rise in sugar futures prices to a pick-up in demand in the spot market, driven by ongoing marriage season demand, but adequate stock availability amid increased supplies limited the gains.