Sugar prices soared by Rs 200 per quintal at the wholesale market in the national capital today following frantic buying by stockists and bulk consumers and restricted supplies from mills.
Marketmen said, stockists and bulk consumers, such as soft-drink and ice-cream makers, were indulged in enlarging the holdings due to thin supplies from mills amid the reports that the government may go for buffer stock of 3 million tonnes and fix a minimum sugar ex-mill prices to help cash-starved millers clear cane arrears. This movement caused the uplift in sweetener prices.
Sugar ready M-30 and S-30 prices jumped up by Rs 200 each to end the day at Rs 3,200-3,350 and Rs 3,190-3,340 per quintal.
Mill delivery M-30 and S-30 prices also climbed up by Rs 70 each to finish the day at Rs 2,840-3,080 and Rs 2,830-3,070 per quintal.
Among mill gate section, Sugar Simbholi and Dhampur spurted by Rs 60 each to Rs 3,030 and Rs 2,840, while Kinnoni and Budhana surged by Rs 50 each to Rs 3,080 and Rs 2,970 per quintal, respectively.
Prices of Khatuli gained by Rs 45 to Rs 3,040 and Thanabhavan rose by Rs 40 to Rs 2,970 per quintal, respectively.
Following are today's quotations (in Rs per quintal)