Sugar prices at 6-year high on low stocks, robust demand

Sugar prices climbed up by Rs 60 per quintal to trade at nearly six-year high at the wholesale market in the national capital today following tight stocks positions amid speculative buying by stockists and bulk consumers.

Marketmen apart from tight stocks position in the market following pause in supplies by mills, robust demand from bulk consumers and stockists, lifted the sweetener prices to almost six-year high.

Moreover, lower output estimates by Indian Sugar Merchant Association (ISMA), too fulled surge in sugar prices, they added.

At the retail markets In the national capital, sugar prices were ruling higher between Rs 45 to Rs 50 per kilo.

And in wholesale market sugar ready M-30 and S-30 prices were higher by Rs 60 to settle at Rs 4,080-4,180 and Rs 4,070-4,170 per quintal.

Likewise, mill delivery M-30 and S-30 prices were higher by Rs 50 each to finish at Rs 3,750-3,840 and Rs 3,740-3,830 per quintal.

In the millgate section, Sugar Asmoli jumped up by Rs 50 to Rs 3,810, followed by sugar Kinnoni, Nazibabad, Simbholi, Chandpur, Dhampur, Ramala, Baghpat, Anupshaher, Morna and Sakoti by Rs 40 each to 3,840, Rs 3,750, Rs 3,820, Rs 3,750, Rs 3,760, Rs 3,750, Rs 3,770, Rs 3,750, Rs 3,760 and Rs 3,770 per quintal respectively.

Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 45.00-50.00 per kg.

Sugar ready: M-30 Rs 4,080-4,180, S-30 Rs 4,070-4,170.

Mill delivery: M-30 Rs 3,750-3,840, S-30 Rs 3,740-3,830.

Sugar millgate (including duty): Mawana Rs 3,780, Kinnoni Rs 3,840, Asmoli Rs 3,810, Dorala Rs 3,770, Budhana Rs 3,780,Thanabhavan Rs 3,770, Dhanora Rs 3,770, Simbholi Rs 3,820, Khatuli Rs 3,820, Dhampur Rs 3,760, Ramala Rs 3,750, Anupshaher Rs 3,750, Baghpat Rs 3,770, Morna Rs 3,760, Sakoti Rs 3,770, Chandpur Rs 3,750, Nazibabad Rs 3,750 and Modinagar 3,760.