Supported by a strong demand from bulk consumers amid tight supplies, sugar prices strengthened by a whopping Rs 110 per quintal at the wholesale market in the national capital today.
The steep rise in sugar prices was attributed to an increased offtake by bulk consumers as well as retailers against a halt in supplies form millers.
In addition, export demand too supported the upsurge in the sweetener prices as the Centre announced a compulsory export of atleast 4 million tonnes in the current crushing season to reduced stockpiles.
Sugar ready M-30 and S-30 prices climbed Rs 100 each to end at Rs 3,050-3,260 and Rs 3,040-3,250 per quintal.
Mill delivery M-30 and S-30 prices too jumped up by same margins of Rs 100 each to Rs 2,820-3,070 and Rs 2,810-3,060 per quintal.
In millgate section, sugar Dhanora, Dhampur and Khatuli shoot up by Rs 110 each to Rs 2,960, Rs 2,950 and Rs 3,010 per quintal.
Kinnoni, Asmoli and Budhana spurted by Rs 100 each at Rs 3,070, Rs 3,000 and Rs 2,970 per quintal.
