Sugar prices zooms over Rs 300 per quintal

Sugar prices rose up to Rs 320 per quintal at the wholesale market in the national capital Monday on aggressive offtake by stockists as well as bulk consumers after the government approved a hike over 25 per cent in ethanol prices.

Furthermore, pause in supplies from mills in anticipation of a further rise in the sweetener prices too bolstered sentiments.

Marketmen said frantic buying by bulk consumers such as soft-drink, ice-cream and confectioners coupled with thin supplies lifted sweetener prices notably higher.

Sentiments got a boost after the government last week approved an over 25 per cent hike in the price of ethanol produced directly from sugarcane juice for blending in petrol in a bid to cut surplus sugar production and reduce oil imports.

 

In the price section, sugar mill delivery M-30 and S-30 prices shot up by Rs 270 each to end the day at Rs 3,310-3,600 and Rs 3,300-3,590 per quintal, respectively.

Likewise, sugar ready M-30 and S-30 went up by a whopping Rs 200 each to Rs 3,600-3,800 and Rs 3,590-3,790 per quintal, respectively.

In the mill gate section, sugar Dhanora and Simbholi rose the most by rising Rs 320 each to end at Rs 3,580 and Rs 3,570 per quintal.

Sugar Khatuli flared up by Rs 290 to Rs 3,590, Kinnoni hardened by Rs 270 to Rs 3,600, and Asmoli gathered Rs 260 to Rs 3,560 per quintal.

Mawana climbed Rs 235 to Rs 3,420, Dorala and Sakoti spurted by Rs 230 each to Rs 3,410 and Rs 3,280 per quintal.

Prices of Budhana and Thanabhavan also added gains of Rs 225 each at Rs 3,400 and Rs 3,390 per quintal.

At the retail market, sugar traded higehr by up to Rs 3 per quintal at Rs 37 to Rs 44 a kilo.

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

Sugar retail markets - Rs 37-43 per kg.

Sugar ready: M-30 Rs 3,600-3,800, S-30 Rs 3,590-3,790.

Mill delivery: M-30 Rs 3,310-3,600, S-30 Rs 3,300-3,590.

Sugar millgate (including duty): Mawana Rs 3,420, Kinnoni Rs 3,600, Asmoli Rs 3,560, Dorala Rs 3,410, Budhana Rs 3,400, Thanabhavan Rs 3,390, Dhanora Rs 3,580, Simbholi Rs 3,570, Khatuli Rs 3,590, Dhampur 3,320, Sakoti 3,280, Modinagar 3,320, Shamli 3,310, Malakpur Rs 3,320, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.