Sugar climbs as government mulls export via barter trade

Sugar prices rose further by Rs 160 per quintal at the wholesale market in the national capital today, largely on reports that the government is considering a proposal to allow export of 4 million tonnes of sugar through barter trade.
Furthermore, pick up in demand from bulk consumers as well as retailers supported the upside in sweetener prices.
Marketmen said the rise in sugar prices was mostly attributed to reports that the government is considering a proposal to allow export of 4 million tonnes of sugar through barter trade to help mills offload surplus stock and clear cane arrears of over Rs 14,000 crore.

They said, speculative buying by stockists and pause in supplies by millers also influenced sugar prices.
Sugar prices have gone up to by Rs 350 per quintal the last four days.
Sugar ready M-30 and S-30 prices climbed up by Rs 150 each to settle at Rs 2,700-2,900 and Rs 2,690-2,890 per quintal.

Mill delivery M-30 and S-30 prices too shot up by Rs 150 each to close at Rs 2,510-2,670 and Rs 2,500-2,660 per quintal.
In millgate section, sugar Ramala and Baghpat soared by Rs 160 each to Rs 2,520 and Rs 2,530 per quintal.
Sugar Anupshaher, Morna and Nazibabad zoomed by Rs 150 each to Rs 2,510, Rs 2,520 and Rs 2,510, while Kinnoni, Khatuli and Malakpur swifted by Rs 130 each at Rs 2,670, Rs 2,650 and Rs 2,570 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 27.00-32.00 per kg.
Sugar ready: M-30 Rs 2,700-2,900 S-30 Rs 2,690-2,890.
Mill delivery: M-30 Rs 2,510-2,670 S-30 Rs 2,500-2,660.
Sugar millgate (including duty): Mawana Rs 2,600, Kinnoni Rs 2,670, Asmoli Rs 2,630, Dorala Rs 2,590, Budhana Rs 2,580, Thanabhavan Rs 2,570, Dhanora Rs 2,560, Simbholi Rs 2,650, Khatuli Rs 2,650, Dhampur 2,550, Ramala Rs 2,520, Bulandshaher Rs 2,530, Anupshaher Rs 2,510, Baghpat Rs 2,530, Morna Rs 2,520, Sakoti Rs 2,540, Chandpur Rs 2,530, Nazibabad Rs 2,510 and Malakpur 2,570.