NCDEX May sugar up taking cues from spot mkts.

The May contract of sugar on the NCDEX rose, tracking a rise in prices of the commodity in key spot markets. In Mumbai and Kolhapur, the wholesale markets of Maharashtra, sugar prices were up 5 rupees from previous close. Prices in the wholesale markets rose as demand improved, with Stuckists replenishing their inventories at the start of the month. The most active May contract of sugar traded up 0.8% from previous close. Traders, however, are uncertain of the prices sustaining at current levels as supply of sugar is set to rise because of higher production in Uttar Pradesh and arrivals of imported stock.