Sugar prices up on lower free sale sugar quota

Sugar prices hardened by Rs 25 per quintal in the national capital today on the back of restricted supply amid increased buying by stockist and bulk consumers.

Traders said trading in sugar picked-up on increased buying by stockists and bulk consumers such as soft drink and ice-cream makers.

They said fresh monthly free-sale sugar quota released by the government was less than the market expectations, which further supported the uptrend. The government announced 17.72 lakh tonne of free sale sugar quota for July, including leavy sugar of 2.12 lakh tonne.

Sugar ready medium and second grade prices moved up to Rs 2,925-3,025 and Rs 2,900-3,000 per quintal, respectively. Mill delivery medium and second grade price also improved by Rs 25 each to Rs 2,725-2,915 and Rs 2,700-2,890 per quintal, respectively.  

Following were today's quotation in Rs per quintal. 

Sugar ready M-30 2,925-3,025 and S-30 2,900-3,000
Mill delivery M-30 2,725-2,915 and S-30 2,700-2,890

Sugar mill gate prices (excluding duty): Kinonni 2,885, Asmoli 2,875, Mawana 2,800, Titabi 2,805, Thanabhavan 2,700, Budhana 2700 and Dorala 2,800