NEW DELHI, Jan 28: Sugar prices rose by Rs 5 to Rs 3,239 per quintal in futures trade today as speculators created fresh positions, driven by rise in demand from bulk consumers in the market.
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 rose by Rs 5, or 0.15 per cent, to Rs 3,239 per quintal, with an open interest of 13,770 lots.
Similarly, the sweetener for delivery in February edged up by Rs 4, or 0.13 per cent to Rs 3,199 per quintal in a business turnover of 42,590 lots.
Market analysts said fresh buying by speculators, driven by pick-up in demand from bulk consumers in the spot markets, driven by ongoing wedding season, mainly led to rise in sugar futures, but supply pressure capped the gains. (PTI)
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