Sugar prices up on thin supply, increased offtake

Sugar prices rose up to Rs 50 per quintal at the wholesale market in the national capital today on tight position of ready stocks amid rising demand.

Marketmen said paucity of ready stocks on disruption in arrivals from mills due to blockage and diversion of roads in view of ongoing auspicious "Kanwar Yatra", triggered increased demand from stockists and bulk consumers, mainly attributed the rise in sweetener prices.

Sugar spot M-30 and S-30 prices rallied from Rs 4,150- 4,300 and Rs 4,140-4,290 to settle the day at Rs 4,200-4,300 and Rs 4,190-4,290, showing a net gain of Rs 50 per quintal.
 

Sugar mill delivery M-30 and S-30 prices also edged up by Rs 10 to end at Rs 3,700-3,900 and Rs 3,690-3,890 per quintal.

In the millgate section, sugar Nanota gained the most by rising Rs 20 to Rs 3,730, while Asmoli, Khatuli, Ramala and Anupshaher advanced Rs 10 each to Rs 3,860, Rs 3,890, Rs 3,720 and Rs 3,700 per quintal.

On the other hand, sugar prices of few mills such as Budhana and Thanabhavan eased by Rs 15 each to Rs 3,820 and Rs 3,815, while Dhanora by Rs 10 to Rs 3,850 per quintal.

Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 45.00-50.00 per kg.

Sugar ready: M-30 Rs 4,200-4,300, S-30 Rs 4,190-4,290.

Mill delivery: M-30 Rs 3,700-3,900, S-30 Rs 3,690-3,890.

Sugar millgate (including duty): Mawana Rs N.Q., Kinnoni Rs 3,900, Asmoli Rs 3,860, Dorala Rs 3,830, Budhana Rs 3,820, Thanabhavan Rs 3,815, Dhanora Rs 3,850, Simbholi Rs 3,880, Khatuli Rs 3,890, Dhampur Rs 3,800, Ramala Rs 3,720, Anupshaher Rs 3,700, Baghpat Rs 3,735, Morna Rs 3,730, Sakoti Rs 3,790, Chandpur Rs 3,790, Nazibabad Rs 3,720, Modinagar N.Q., Shamli 3,820 and Nanota 3,730.