Sugar prices spurt on brisk demand

Sugar prices spurt on brisk demand

Sugar prices rose by up to Rs 40 per quintal at the wholesale market in the national capital today on increased buying by stockists and bulk consumers amid tight supplies from mills.

Yesterday, the government hiked (FRP) fair and remunerative price for sugarcane by Rs 20/quintal to Rs 275 per quintal for the forthcoming season beginning October, which added to the surge in sugar prices.

Marketmen said increased demand from stockists and bulk consumers such as soft-drinks and ice-cream makers along with a pause in supplies from mills, mainly lifted the sweetener’s prices.

In the price section, sugar ready M-30 and S-30 prices climbed Rs 30 each to end at Rs 3,600-3,750 and Rs 3,590-3,740 per quintal.

Mill delivery M-30 and S-30 prices also edged up by Rs 10 each to conclude at Rs 3,300-3,450 and Rs 3,290-3,440 per quintal.

In the mill gate section, sugar Modinagar, Asmoli and Malakpur rose by Rs 40 each to Rs 3,350, Rs 3,420 and Rs 3,340 per quintal.

Prices of Mawana, Dorala, Budhana, Thanabhavan, Sakoti and Shamli also advanced by Rs 30 each to Rs 3,370, Rs 3,360, Rs 3,350, Rs 3,340, Rs 3,330 and Rs 3,320 per quintal, respectively.

Following are today’s quotations (in Rs per quintal)

Sugar retail markets – Rs 35-41 per kg.

Sugar ready: M-30 Rs 3,600-3,750, S-30 Rs 3,590-3,740.

Mill delivery: M-30 Rs 3,300-3,450, S-30 Rs 3,290-3,440.

Sugar millgate (including duty): Mawana Rs 3,370, Kinnoni Rs 3,450, Asmoli Rs 3,420, Dorala Rs 3,360, Budhana Rs 3,350, Thanabhavan Rs 3,340, Dhanora Rs 3,410, Simbholi Rs 3,410, Khatuli Rs 3,420, Dhampur Rs 3,320, Sakoti Rs 3,330, Modinagar Rs 3,350, Shamli Rs 3,320, Malakpur Rs 3,340, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.

Source: Business Standard – Published on: 19th July 2018