Sugar prices soar on frantic buying, tight supply

Sugar prices jumped up to Rs 230 per quintal at the wholesale market in the national capital today on tight supplies from mills amid immense buying by stockists and bulk consumers.
Marketmen said, brisk buying by stockists and bulk consumers further fuelled up by thin arrivals from mills, mainly led to a spurt in sugar prices.
To curb falling sugar prices, government had taken two decisions; doubling up the import duty from 50 per cent to 100 per cent, followed by the cap on sales by mills for February and March.
Sugar ready M-30 and S-30 prices jumped up by Rs 200 each to settle at Rs 3,650-3,850 and Rs 3,640-3,870 per quintal.

Mill delivery M-30 and S-30 prices also climbed up by Rs 210 each to conclude at Rs 3,430-3,590 and Rs 3,420-3,580 per quintal.
In mill gate section, sugar Dorala, Budhana, Thanabhavan and Modinagar shot up by Rs 230 each to end the day at Rs 3,480, Rs 3,475, Rs 3,465 and Rs 3,460, followed by Mawana by Rs 220 to Rs 3,470, Kinnoni, Khatuli and Shamli by Rs 210 each to Rs 3,590, Rs 3,560 and Rs 3,450 per quintal respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 36.00-40.00 per kg.
Sugar ready: M-30 Rs 3,650-3,850, S-30 Rs 3,640-3,840.

Mill delivery: M-30 Rs 3,430-3,590, S-30 Rs 3,420-3,580.
Sugar millgate (including duty): Mawana Rs 3,470, Kinnoni Rs 3,590, Asmoli Rs 3,520, Dorala Rs 3,480, Budhana Rs 3,475, Thanabhavan Rs 3,465, Dhanora Rs 3,520, Simbholi Rs 3,520, Khatuli Rs 3,560, Dhampur Rs 3,430, Sakoti 3,430, Modinagar 3,460, Shamli 3,450, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.