Sugar zooms post 8,500 cr package announcement
Sugar prices advanced by Rs 100 per quintal at the wholesale market in the national capital today on immense buying by stockists and bulk consumers amid thin supplies from mills, after the announcement of Rs 8,500 crore package by the government for the beleaguered sugar mills and farmers.
Marketmen said, frantic buying by ice-cream and soft-drink makers amid reduced supplies mills, mainly pushed up sweetener prices.
Yesterday, the government announced Rs 8,500 crore package which included fixing minimum sale price of Rs 29 per kg, 3 million tonne buffer stocks and Rs 4,500 crore soft-loan to boost ethanol capacity.
In price section, sugar ready M-30 and S-30 climbed up by Rs 100 each to end the day at Rs 3,400-3,550 and Rs 3,490-3,540 per quintal, respectively.
Likewise, mill delivery M-30 and S-30 prices jumped up by Rs 50 each to settle at Rs 3,100-3,280 and Rs 3,090-3,270 per quintal, respectively.
In millgate section, sugar Dhanora and Shamli shot up by Rs 80 each to Rs 3,230 and Rs 3,120 followed by Dorala, Thanabhavan and Budhana by Rs 70 each to Rs 3,170, Rs 3,180 and Rs 3,170 per quintal, respectively.
Sugar Modinagar, Dhampur and Malakpur hardened by Rs 60 each to Rs 3,130, Rs 3,100 and Rs 3,130, while Mawana, Asmoli and Sakoti rose by Rs 50 each to Rs 3,140, Rs 3,190 and Rs 3,100 per quintal, respectively.
Following are today’s quotations (in Rs per quintal)
Sugar retail markets – Rs 34.00-39.00 per kg.
Sugar ready: M-30 Rs 3,400-3,550, S-30 Rs 3,390-3,540.
Mill delivery: M-30 Rs 3,100-3,280, S-30 Rs 3,090-3,270.
Sugar millgate (including duty): Mawana Rs 3,140, Kinnoni Rs 3,280, Asmoli Rs 3,190, Dorala Rs 3,170, Budhana Rs 3,170, Thanabhavan Rs 3,180, Dhanora Rs 3,230, Simbholi Rs 3,240, Khatuli Rs 3,230, Dhampur Rs 3,100, Sakoti 3,100, Modinagar 3,130, Shamli 3,120, Malakpur 3,130, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.
Source: Business Standard – Published on: 07/06/2018