Sugar prices rise as government approves export subsidy

Buoyed by the government's decision to approve subsidy on export of up to 1.4 million tonnes of raw sugar, prices firmed up by Rs 60 per quintal at the wholesale sugar market in the national capital today.
Besides, pick up in demand from bulk consumers such as soft drink and ice-cream makers, supported the upside.
Marketmen said sentiments turned better as the government approved export subsidy on raw sugar for up to 1.4 million tonnes in the ongoing 2014-15 marketing year, a move that would boost millers' cash flow.
Sugar ready M-30 and S-30 prices spurted to Rs 2,750-2,960 and Rs 2,740-2,940 from Rs 2,720-2,920 and Rs 2,710-2,900 per quintal, respectively.

Similarly, mill delivery M-30 and S-30 traded higher at Rs 2,630-2,835 and Rs 2,620-2,815 instead of Rs 2,600-2,780 and Rs 2,590-2,760 per quintal.
Coming to millgate section, sugar Asmoli gained the most by rising Rs 60 at Rs 2,800, while Kinnoni rose by Rs 55 at Rs 2,835 per quintal.

Sugar Dhanora hardened by Rs 50 at Rs 2,680, while Dorala, Budhana, Simbholi and Modinagar gained Rs 45 each at Rs 2,690, Rs 2,705, Rs 2,810 and Rs 2,690 per quintal, respectively.
In tandem with overall trends, prices of Thanabhavan, Khatuli and Chandpur rose by Rs 40 each to Rs 2,690, Rs 2,820 and Rs 2,650, while Anupshar up by Rs 30 at Rs 2,640 and Sakoti by Rs 25 at Rs 2,655 per quintal.

Following are today's quotations (in Rs per quintal):
Sugar retail markets - Rs 31.00-34.00 per kg Sugar ready: M-30 Rs 2,750-2,960 S-30 Rs 2,740-2,940. Mill delivery: M-30 Rs 2,630-2,835 S-30 Rs 2,620-2,815. Sugar mill gate (including duty): Mawana Rs 2700, Kinnoni Rs 2,835, Asmoli Rs 2,800, Dorala Rs 2,690, Budhana Rs 2,705, Thanabhavan Rs 2,690, Dhanora Rs 2,680, Simbholi Rs 2,810, Modi Nagar Rs 2,690, Khatuli Rs 2,820, Dhampur 2,680, Ramala Rs 2,650, Bulandshahr Rs N.T., Anupshahr Rs 2,6340, Baghpat Rs 2,660, Morna Rs 2,660, Sakoti Rs 2,655, Chandpur Rs 2,650, Nazibabad Rs 2,640.