Sugar ends higher on strong demand

Sugar prices closed higher by 0.93 per cent on Saturday at the National Commodity & Derivatives Exchange Limited (NCDEX) as fresh positions were created by traders driven by a firming trend in spot markets on the back of rising demand from bulk consumers and deficient monsoon in key growing areas.

At the NCDEX, sugar futures for September 2012 contract closed at Rs. 3,474 per quintal, up by 0.93 per cent, after opening at Rs. 3,458 against the previous closing price of Rs. 3,442. It touched the intra-day high of Rs. 3,499.

India is the largest consumer and second largest producer of sugar in World. Sugar is produced in 115 countries.Via

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