Sugar prices strengthen on summer season demand

Sugar prices strengthened by Rs 10 per quintal at the wholesale market in the national capital today on sustained buying by stockists and bulk consumers to meet ongoing summer season demand.

Marketmen said increased demand from stockists as well as bulk consumers, driven by ongoing summer season, mainly kept sugar prices higher. Reports of lower output also supported the upside, they said.

Meanwhile, India's sugar production is likely to fall by 4% to about 24 million tonnes in the next marketing year, starting October due to lower cane output, but there will not be any need to import as the country has sufficient stock, according to industry body ISMA.

Sugar ready M-30 and S-30 prices edged up by Rs 10 each to Rs 3,650-3,730 and Rs 3,640-3,720 per quintal, respectively.

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

Sugar retail markets - Rs 33.00-39.00 per kg.

Sugar ready: M-30 Rs 3,650-3,730, S-30 Rs 3,640-3,720.

Mill delivery: M-30 Rs 3,370-3,430, S-30 Rs 3,360-3,420.

Sugar millgate (including duty): Mawana Rs 3,410, Kinnoni Rs 3,430, Asmoli Rs 3,410, Dorala Rs 3,400, Budhana Rs 3,380, Thanabhavan Rs 3,370, Dhanora Rs 3,380, Simbholi Rs 3,410, Khatuli Rs 3,410, Dhampur Rs 3,380, Ramala Rs 3,420, Anupshaher Rs 3,420, Baghpat Rs 3,430, Morna Rs 3,430, Sakoti Rs 3,380, Chandpur Rs 3,370, Nazibabad Rs 3,420 and Malakpur Rs 3,370.