Recovering from seven-year lows, sugar prices recorded a significant rise of up to Rs 225 a quintal at the wholesale market in the national capital today, powered by brisk demand from bulk consumers and retailers amid restricted supplies.
Market experts attributed persistent rise in sweetener prices to strong demand from bulk consumers such as confectioners and soft-drink makers, triggered by ongoing festive and wedding season.
Furthermore, slowdown in supplies from mills -- as many of them have shut production after finishing current crushing session -- too supported the upside in sugar prices, they said.
However, surplus inventories avoided wild fluctuations in the sweetener prices.
Sugar ready M-30 and S-30 prices zoomed by Rs 225 each to finish at Rs 2,900-3,050 per quintal.
Similarly, mill delivery M-30 and S-30 prices climbed up by Rs 200 each to end at Rs 2,630-2,880 and Rs 2,620-2,870 per quintal.
In the millgate section, sugar Kinnoni, Asmoli, Simbholi and Khatauli were also up by Rs 200 each to Rs 2,880, Rs 2,870, Rs 2,880 and Rs 2,870 per quintal.
Prices of Thanabhavan, Budhana and Dorala were up by Rs 170 each to Rs 2,740, Rs 2,750 and Rs 2,740 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-35.00 per kg.
Sugar ready: M-30 Rs 2,900-3,050 S-30 Rs 2,890-3,040.
Mill delivery: M-30 Rs 2,630-2,880 S-30 Rs 2,620-2,870.
Sugar millgate (including duty): Mawana Rs Not Quoted, Kinnoni Rs 2,880, Asmoli Rs 2,870, Dorala Rs 2,740, Budhana Rs 2,750, Thanabhavan Rs 2,740, Dhanora Rs 2,740, Simbholi Rs 2,880, Khatauli Rs 2,870, Dhampur 2,680, Ramala Rs 2,640, Bulandshaher Rs N.Q, Anupshaher Rs 2,630, Baghpat Rs 2,650, Morna Rs 2,650, Sakoti Rs 2,690, Chandpur Rs N.Q, Nazibabad Rs 2,630 and Malakpur NQ.
