Sugar futures up on hopes of pick up in spot demand

NEW DELHI: Sugar futures traded 0.15 per cent higher today as speculators created fresh positions, anticipating a pick-up in spot demand by bulk customers in the traditional summer season.

At the National Commodity and Derivatives Exchange, sugar for delivery in April traded Rs 4, or 0.15 per cent higher at Rs 2,619 per quintal, with an open interest of 11,260 lots.

Analysts said expectations that the demand will in increase from bulk consumers like ice-cream and soft drink makers in the summer season, helped the sweetener to trade higher at futures trade here. But, an estimated rise in the production limited its gains, they said.