Sugar rises on heavy stockists buying
Sugar prices rose further at the Vashi wholesale market here today due to heavy demand from stockists and bulk traders amid expectations of further hike in exports.
The Empowered Group of Ministers (EGoM) on food will be meeting tomorrow, to take decision on allowing more exports of the sweetener.
Medium sugar (M-30) spurted by Rs 10/30 per quintal to Rs 2,791/2,961 from overnight close of Rs 2,761/2,951. Small sugar (S-30) also went up by Rs 24 per quintal to Rs 2,716/2,865 as against Rs 2,716/2,841 yesterday.
The following are today's closing rates for sugar (per quintal), with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 2,791/2,961 (Rs 2,761/2,951)
Small sugar (S-30) quality: Rs 2,716/2,865 (Rs 2,716/2,841)