Sugar maintains upward trend on seasonal demand, thin supply

Riding high on strong buying by bulk consumers and retailers, triggered by festive and wedding season, sugar prices went up by Rs 150 per quintal at the wholesale market in the national capital today.
In addition, pause in supplies by millers too supported the persistent rise in sweetener prices.
Marketmen attributed sustained rise in sugar prices which recovered by over Rs 600 after touching seven-year low, to strong buying by bulk consumers such as soft-drinks and confectioners.
They said speculative activity by stockists too supported the upside in sugar prices.
Sugar ready M-30 and S-30 prices climbed from Rs 2,900-3,050 and Rs 2,890-3,040 to settle at Rs 3,000-3,200 and Rs 2,990-3,190, though showing a sharp gains of Rs 150 per quintal.

In a similar pattern, mill delivery M-30 and S-30 traded higher at Rs 2,730-2,980 and Rs 2,720-2,970 as against previous closing of Rs 2,630-2,880 and Rs 2,620-2,870.

In the millgate section, sugar Kinnoni, Asmoli, Simbholi, Khatuli, Dhampur, Baghpat and Nazibabad jumped Rs 100 each to Rs 2,980, Rs 2,970, Rs 2,980, Rs 2,970, Rs 2,780, Rs 2,750 and Rs 2,740 per quintal.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-35.00 per kg.
Sugar ready: M-30 Rs 3,000-3,200 S-30 Rs 2,990-3,190.
Mill delivery: M-30 Rs 2,730-2,980 S-30 Rs 2,720-2,970.
Sugar millgate (including duty): Mawana Rs Not Quoted, Kinnoni Rs 2,980, Asmoli Rs 2,970, Dorala Rs 2,830, Budhana Rs 2,830, Thanabhavan Rs 2,820, Dhanora Rs 2,820, Simbholi Rs 2,980, Khatuli Rs 2,970, Dhampur 2,780, Ramala Rs 2,740, Bulandshaher Rs N.Q, Anupshaher Rs 2,730, Baghpat Rs 2,750, Morna Rs 2,750, Sakoti Rs 2,740, Chandpur Rs N.Q, Nazibabad Rs 2,740 and Malakpur N.Q.