Sugar: A firm tendency persisted in the wholesale sugar market during the past week under review following increased buying by retailers and bulk consumers amid restricted supply, registering gains up to Rs 50 per quintal.
Market analysts said pick up in demand among bulk consumers such as soft drink and ice-cream makers due to coming summer and marriage season against restricted supply from mills, mainly boosted the trading sentiment.
The government's decision to allow export of 5 lakh tonne of sugar also helped in pushing up the sweetener prices to some extent.
Sugar ready medium and second grade prices improved from Rs 2,950-3,075 and Rs 2,935-3,050 to Rs 2,980-3,125 and Rs 2,970-3,100 per quintal, respectively.
Mill delivery medium and second grade price went up from Rs 2,740-2,890 and Rs 2,725-2,850 to Rs 2,775-2,925 and Rs 2,760-2,900 per quintal, respectively.
In the millgate section, sugar budhana moved up by Rs 45 to Rs 2,830 per quintal and sugar dorala gained by Rs 40 to Rs 2,875 per quintal. Sugar asmoli, mawana and titabi rose by Rs 30 each to Rs 2,900, Rs 2880 and Rs 2,870 per quintal, respectively.