Sugar prices soar on paucity of stocks, brisk demand

Sugar prices advanced by Rs 100 per quintal at the wholesale market in the national capital today following bumper demand from stockists and bulk consumers amid tight stocks due to pause in supplies by mills.

Marketmen said, shortage of stocks in the market on decreased supplies amid reports that government may take a decision to create a 3 million tonnes buffer stocks to curb falling prices supported the upward trend.

Frantic buying by stockists and bulk consumers such as soft-drink and ice-cream makers, triggered by ongoing summer season also contributed to rising prices.

In price section, sugar ready M-30 an S-30 went by Rs 100 each to settle the 3,250-3,380 and Rs 3,240-3,370 per quintal.

Mill delivery M-30 and S-30 prices also climbed by Rs 100 to finish at Rs 2,950-3,150 and Rs 2,940-3,140 per quintal.

In the mill gate section, sugar Dhampur shot up by Rs 100 to Rs 2,980, Mawana shot up by Rs 80 to Rs 3,040, while Dorala, Dhanora, Khatuli, Sakoti and Modinagar hardened by Rs 70 each to Rs 3,030, Rs 3,090, Rs 3,120 and rest both at Rs 3,000 per quintal, respectively.

Following are today's quotations (in Rs per quintal)