NEW DELHI, Feb 11: Sugar futures prices today recovered by 0.79 per cent to, Rs 3,072 per quintal as speculators covered-up their short positions amid pick-up in spot demand.
However, ample stocks following higher supplies in the physical market restricted the rise.
At the National Commodity and Derivatives Exchange, sugar for delivery in March traded Rs 24, or 0.79 per cent higher, at Rs 3,072 per quintal, with an open interest of 28,140 lots.
Similarly, the sweetener for delivery in February edged up by Rs 4, or 0.13 per cent, to Rs 3,025 per quintal in a business turnover of 16,500 lots.
Market analysts said covering-up of short positions by participants at prevailing levels amid a pick up in spot demand, helped sugar prices to recover at futures trade but supply pressure capped the gains. (PTI)
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