Sugar prices improved by Rs 30 per quintal at the wholesale market in the national capital today mostly supported by strong demand amid restricted supplies by mills.
Traders said heavy buying by stockists, retailers and bulk consumers, including soft-drink and ice-cream makers on account of summer season, mainly attributed to the rise in sweetener prices.
Besides, hike in import duty on sugar too enthused sentiments, they added.
Meanwhile, to help cash-starved sugar mills clear dues worth Rs 21,000 crore to farmers, the government yesterday hiked import duty on sugar to 40 per cent from 25 per cent and scrapped the excise duty on ethanol made from molasses.
Sugar ready M-30 and S-30 prices were higher by Rs 30 each to Rs 2,730-2,860 and Rs 2,720-2,850 per quintal.
Mill delivery M-30 and S-30 also enquired higher by a similar margin to trade at Rs 2,565-2,720 and Rs 2,555-2,710 per quintal.
In the millgate section, sugar Mawana and Dorala edged up by Rs 30 each to Rs 2,630 and Rs 2,640 per quintal.
Prices of Simbholi rose by Rs 25 at Rs 2,710 while Asmoli gained by Rs 20 at Rs 2,700 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,730-2,860 S-30 Rs 2,720-2,850.
Mill delivery: M-30 Rs 2,565-2,720 S-30 Rs 2,555-2,710.
Sugar millgate (including duty): Mawana Rs 2,630, Kinnoni Rs 2,720, Asmoli Rs 2,700, Dorala Rs 2,640, Budhana Rs 2,625, Thanabhavan Rs 2,615, Dhanora Rs 2,630, Simbholi Rs 2,710, Modi Nagar Rs 2,590, Khatuli Rs 2,700, Dhampur 2,580, Ramala Rs 2,580, Bulandshahr Rs 2,600, Anupshar Rs 2,570, Baghpat Rs 2,590, Morna Rs 2,590, Sakoti Rs 2,580, Chandpur Rs 2,590, Nazibabad Rs 2,570.
