Sugar futures gain 0.39% on pick up in demand

NEW DELHI: Sugar prices gained 0.39 per cent to Rs 2,835 per quintal in futures trading today as speculators enlarged positions after pick up in demand in the spot market in view of marriage season.

At the National Commodity and Derivatives Exchange, sugar for delivery in January gained Rs 11, or 0.39 per cent, to Rs 2,835 per quintal with an open interest of 20,530 lots.

Likewise, the sweetener for delivery in December traded higher by Rs 7, or 0.25 per cent, to Rs 2,830 per quintal in 11,110 lots.

Market analysts said speculators enlarged positions after pick up in demand in the spot market in view of marriage season which led to rise in sugar prices at futures trade.