Sugar futures gain 1.38 pc on spot demand

Sugar prices moved up by 1.38 per cent to Rs 3,751 per quintal in futures market today as speculators built up fresh positions, driven by pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, sugar for delivery in October rose by Rs 51, or 1.38 per cent to Rs 3,751 per quintal with an open interest of 40 lots.

Analysts said fresh positions created by participants on the back of pick up in demand in the physical market amid pause in supplies, mainly influenced sugar prices at futures trade.

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