SUGAR UP 0.8% ON SPOT DEMAND

Sugar prices were up by 0.83 per cent to Rs 2,301 per quintal in futures trading today as speculators built up positions, taking positive cues from the spot market on demand pick up.
However, adequate stock position in the physical market on higher supplies by mills and higher output estimates this marketing year capped the rise.
At National Commodity and Derivatives Exchange (NCDEX), sugar for delivery in October rose by Rs 19, or 0.83 per cent, to Rs 2,301 per quintal with an open interest of 30,650 lots.
Similarly, the sweetener for delivery in July contracts gained Rs 15, or 0.68 per cent to Rs 2,236 per quintal in 44,510 lots.
Analysts said fresh positions built up by speculators after spot demand picked up from bulk consumers such as ice-cream and soft-drinks makers supported by summer season mainly led to the rise in sugar prices.

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