Sugar prices soar on brisk demand, lower output

Sugar prices shot up further by Rs 110 per quintal at the wholesale sugar market in the national capital today following bumper demand from stockists and bulk consumers, powered by lower output this year.

Marketmen said heavy buying by stockists, retailers and bulk consumers, triggered by thin supplies from mills mainly kept sweetener prices in the green zone for the third straight day.

Besides, waning stockpiles due to consecutive lower production was the main reason behind price rise, they quoted.

Sugar mill delivery M-30 and S-30 prices jumped up further by Rs 110 each to end at Rs 3,640-3,720 and Rs 3,630-3,710 per quintal.

Sugar ready M-30 and S-30 prices also hardened by Rs 70 each to close at Rs 3,940-4,020 and Rs 3,930-4,010 per quintal.

Among millgate section, sugar Baghpat and Nazibabad improved the most by Rs 110 each to Rs 3,660 and Rs 3,640, followed by Morna and Modinagar climbed up by Rs 100 each to Rs 3,650 and Rs 3,660 per quintal.

Sugar Ramala and Anupshaher also hardened by Rs 90 each and ended at Rs 3,640 each per quintal.

Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 42.00-45.00 per kg.

Sugar ready: M-30 Rs 3,940-4,020, S-30 Rs 3,930-4,010.

Mill delivery: M-30 Rs 3,640-3,720, S-30 Rs 3,630-3,710.

Sugar millgate (including duty): Mawana Rs 3,670, Kinnoni Rs 3,720, Asmoli Rs 3,700, Dorala Rs 3,670, Budhana Rs 3,670,Thanabhavan Rs 3,660, Dhanora Rs 3,670, Simbholi Rs 3,700, Khatuli Rs 3,700, Dhampur Rs 3,650, Ramala Rs 3,640, Anupshaher Rs 3,640, Baghpat Rs 3,660, Morna Rs 3,650, Sakoti Rs 3,660, Chandpur Rs 3,640, Nazibabad Rs 3,640 and Modi nagar 3,660.