Sugar prices soar on brisk demand, tight supply

Sugar prices went up by Rs 50 per quintal at the wholesale market in the national capital today on increased offtake by stockists to meet strong demand from stockists and bulk consumers amid restricted supplies from mills.
According to marketmen, brisk buying by stockists and bulk consumers such as soft-drink and ice-cream makers, triggered by ongoing summer demand and tight arrivals from mills, mainly help sugar prices to maintain an upward trend units prices.
Besides, reports of a firming trend in global market, too influenced sugar prices at domestic markets here, they said.
Meanwhile, sugar prices have risen by Rs 160 per quintal since Monday.

Sugar mill delivery M-30 and S-30 prices spurted by Rs 50 each to settle at Rs 3,240-3,300 and Rs 3,230-3,290 per quintal.
Sugar spot M-30 and S-30 prices also swifted by Rs 20 each to end at Rs 3,500-3,600 and Rs 3,490-3,590 per quintal.

In the millgate section, sugar Khatuli, Asmoli, Simbholi, Nazibabad, Sakoti and chandpur improved the most by Rs 50 each at Rs 3,290, Rs 3,280, Rs 3,290, Rs 3,250, Rs 3,250 and Rs 3,240 per quintal.
Also prices of Kinnoni, Budhana, Thanabhavan, Dhampur, Ramala, Baghpat, Anupshaher and Morna hardened by Rs 40 each to Rs 3,300, Rs 3,260, Rs 3,250, Rs 3,240, Rs 3,250, Rs 3,260, Rs 3,240, and Rs 3,260 per quintal respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 34.00-40.00 per kg.
Sugar ready: M-30 Rs 3,500-3,600, S-30 Rs 3,490-3,590.
Mill delivery: M-30 Rs 3,240-3,300, S-30 Rs 3,230-3,290.
Sugar millgate (including duty): Mawana Rs 3,240, Kinnoni Rs 3,300, Asmoli Rs 3,280, Dorala Rs 3,250, Budhana Rs 3,260, Thanabhavan Rs 3,250, Dhanora Rs 3,240, Simbholi Rs 3,290, Khatuli Rs 3,290, Dhampur Rs 3,240, Ramala Rs 3,250, Anupshaher Rs 3,240, Baghpat Rs 3,260, Morna Rs 3,260, Sakoti Rs 3,250, Chandpur Rs 3,240, Nazibabad Rs 3,240 and Malakpur Rs 3,250.