Sugar prices at 3-year high ahead of festivals, new month

Sugar prices soared to trade at fresh three-year high surging by up to Rs 50 to Rs 4,150 per quintal at the wholesale market in the national capital today following increased demand ahead of festive season amid tight supplies from mills.
Marketmen said increased offtake by bulk consumers ahead of auspicious "Navratras", beginning tomorrow supported by tight supplies from mills, mainly lifted the sweetener prices to trade at fresh three-year highs.
Moreover, reports of bullish trend overseas and reports of lower domestic output too gave push to the surging prices, they added.
Sugar ready M-30 and S-30 prices climbed up by Rs 50 to end at Rs 3,920-4,150 and Rs 3,910-4,140 per quintal.

Mill delivery M-30 and S-30 prices also finished higher by Rs 40 each to Rs 3,610-3,790 and Rs 3,600-3,780 per quintal.
In millgate section, sugar Baghpat rose the most by Rs 50 to Rs 3,620, followed by khatuli, dhampur and morna by Rs 40 each to Rs 3,790, Rs 3,620 and Rs 3,610 per quintal, respectively.

Sugar Asmoli, Dhanora, Ramala, Sakoti and Anupshaher also edged up by Rs 30 each to Rs 3,740, Rs 3,620, Rs 3,600, Rs 3,630 and Rs 3,600 per quintal, respectively.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 41.00-44.00 per kg.

Sugar ready: M-30 Rs 3,920-4,150, S-30 Rs 3,900-4,140.
Mill delivery: M-30 Rs 3,610-3,790, S-30 Rs 3,600-3,780.
Sugar millgate (including duty): Mawana Rs not traded, Kinnoni Rs N.T., Asmoli Rs 3,740, Dorala Rs 3,660, Budhana Rs N.T.,Thanabhavan Rs N.T., Dhanora Rs 3,620, Simbholi Rs N.T., Khatuli Rs 3,790, Dhampur Rs 3,620, Ramala Rs 3,600, Anupshaher Rs 3,600, Baghpat Rs 3,620, Morna Rs 3,610, Sakoti Rs 3,630, Chandpur Rs 3,600, Nazibabad Rs 3,600 and Malakpur Rs N.T.