Sugar strengthens on persistent buying

Sugar continued its upward march and prices rose further up to Rs 125 per quintal in the national capital today on persistent buying by stockists and retailers.

Marketmen attributed the rise in sugar prices to pick up in buying by stockists and retailers to meet the ongoing marriage season and soft drinks makers demand.

Meanwhile, the government decided to release 16.65 lakh tonnes of sugar in the open market and through the public distribution system (PDS) during July, about 2.5 lakh tonnes less than the current month.

Sugar medium and second grade prices remained in demand and advanced further to Rs 2,870-2,920 and Rs 2,860-2,910 from previous levels of Rs 2,770-2,850 and Rs 2,760-2,840 per quintal.

Similarly, mill delivery medium and second grade prices edged up to Rs 2,725-2,770 and Rs 2,715-2,760 from last level of Rs 2,600-2,700 and Rs 2,590-2,690 per quintal.

Following are today's rates in Rs per quintal:
Sugar ready M-30 2,870-2,920 and S-30 2,860-2,910
Mill delivery M-30 2,725-2,770 and S-30 2,715-2760
Sugar mill gate prices (excluding duty): Kinonni 2,700, Asmoli 2,690, Mawana 2,630, Titabi 2,620, Thanabhavan 2,610, Budhana 2,600 and Dorala 2,610