Sugar hardens on heavy demand

Both varieties of sugar maintained the rising trend at the Vashi wholesale market here today on heavy demand from stockists and domestic bulk consumers in the backdrop of higher export demand.
'Prevailing domestic demand and surge in International markets along with government notification on export subsidy is firmly supporting sugar prices', a trader said.
Meanwhile, country's sugar output fell 10.63 per cent to 16.86 million tonnes in the October-February period of the ongoing 2013-14 marketing year, according Indian sugar Mills Association (ISMA) also put speculative push on sugar prices.
Small sugar (S-30) surged by Rs 40 per quintal to Rs 2,820/2,912 from Thursday's closing level of Rs 2,780/2,872.

Medium sugar (M-30) also strengthened by Rs 20/30 to Rs 2,920/3,052 from 2,900/3,022.
Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:
Small sugar (S-30) quality: Rs 2,820/2,912 (Rs 2,780/2,872).
Medium sugar (M-30) quality: Rs 2,920/3,052 (Rs 2,900/3,022).