Weekly Market Report: Sugar

SUGAR: The wholesale sugar market remained in a better form in the national capital during the past week due to pick up in retailers and stockist demand amid restricted supply, registering a gains up to Rs 40 per quintal.

Rising demand for the ongoing marriage season maily pushed up the sweatner prices.

The upsurge was partly capped after the government released current month quota, which was higher than market expectations. 

The government also said it might release more stocks in the market if prices still show an abnormal rise.

Marketmen said the sugar prices remained better on heavy buying by stockists to meet the ongoing marriage season amid retailers buying for their regular monthly groceries. 

Sugar ready medium and second grade prices improved from Rs 3,050-3,200 and Rs 3,025-3,175 to settle at Rs 3,050-3,225 per quintal.

Mill delivery medium and second grade price also moved up from Rs 2,875-3,125 and Rs 2,850-3,100 to close at Rs 2,900-3,100 and Rs 2,890-3,075 per quintal.

Among millgate section, sugar thanabhavan and budhana quoted Rs 40 higher at Rs 2,970 and Rs 2,960 per quintal respectively.