Sugar futures extend gains on strong demand

Sugar futures traded up on NCDEX on account of strong demand in spot market from bulk consumers and concerns over next year's production as the weather department has forecast lower rainfall in cane growing areas. The contract for June delivery was trading at Rs 3065.00, up by 0.13% or Rs 4.00 from its previous closing of Rs 3061.00. The open interest of the contract stood at 18900.00 lots. The contract for July delivery was trading at Rs 3067.00, up by 0.16% or Rs 5.00 from its previous closing of Rs 3062.00. The open interest of the contract stood at 32450.00 lots on NCDEX.