Sugar remains up on festive demand

Sugar prices continued to rise for the second straight day by adding up to Rs 40 per quintal in the national capital today on sustained buying by stockists for the ongoing festival and marriage season.

Restricted arrivals from mills and higher upcountry advices also influenced the sentiment.

Marketmen said continued buying by stockists and bulk consumers for the current festival and marriage season demand against restricted arrivals from mills pushed up wholesale sugar prices.

Sugar ready medium and second grade prices remained in demand and strengthened further by Rs 40 each to Rs 2,900-3,000 and Rs 2,890-2,990 per quintal.  

The mill delivery medium and second grade followed suit and added Rs 20 each to Rs 2,680-2,780 and Rs 2,670-2,770 per quintal.

Following are today's rates in Rs per quintal:

Sugar ready M-30 2,900-3,000 and S-30 2,890-2,990
Mill delivery M-30 2,680-2,780 and S-30 2,670-2,770

Sugar mill gate prices (excluding duty): Kinonni 2,720, Asmoli 2,730, Mawana 2,690, Titabi 2,680, Thanabhavan 2,675,Budhana 2,670 and Dorala 2,685