Sugar prices climb brisk demand, global cues

Sugar prices gained Rs 60 per quintal at the wholesale market in the national capital today, supported by frantic buying by stockists and bulk consumers amid thin supply from mills, driven by emerging overseas markets.
Market players said sweetener prices remained in keen demand and posted smart gains, driven by rising prices globally, particularly in Brazil the leading producer of sugar, where supply got hurt due to heavy rains and bad weather conditions.
According to the report of the International Sugar Organization (ISO) the market will record a deficit of 5 million metric tonnes of sugar in the current year due to adverse weather.

In price section, sugar ready M-30 and S-30 climbed by Rs 60 each to end at Rs 3,220-3,390 and Rs 3,210-3,380 per quintal.
Likewise, mill delivery M-30 and S-30 jumped by same margins of Rs 60 each to finish at Rs 3,010-3,130 and Rs 3,000-3,120 per quintal.
Among millgate section, the biggest rise of Rs 60 each registered by Dhanora and Dhampur at Rs 3,030 each per quintal.

Sugar Kinnoni, Budhana, Thanabhavan and Malakpur soared by Rs 50 each to Rs 3,130, Rs 3,050, Rs 3,040 and Rs 3,030 per quintal.
Sugar Asmoli, Dorala, Simbholi, Sakoti and Khatuli also swifted by Rs 40 each at Rs 3,080, Rs 3,050, Rs 3,100, Rs 3,030 and Rs 3,100 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-36.00 per kg.
Sugar ready: M-30 Rs 3,220-3,390, S-30 Rs 3,210-3,380.
Mill delivery: M-30 Rs 3,010-3,130, S-30 Rs 3,000-3,120.
Sugar millgate (including duty): Mawana Rs 3,045, Kinnoni Rs 3,130, Asmoli Rs 3,080, Dorala Rs 3,050, Budhana Rs 3,050, Thanabhavan Rs 3,040, Dhanora Rs 3,030, Simbholi Rs 3,100, Khatuli Rs 3,100, Dhampur Rs 3,030, Ramala Rs 3,030, Anupshaher Rs 3,020, Baghpat Rs 3,040, Morna Rs 3,040, Sakoti Rs 3,030, Chandpur Rs 3,020, Nazibabad Rs 3,030 and Malakpur Rs 3,030.