Sugar prices up on global cue, speculative buying

Sugar prices climbed by up to Rs 80 per quintal at the wholesale market in the national capital today backed up by brisk buying by stockists and bulk consumers, triggered by bullish global cues.
Marketmen attributed the rise in sweetener prices to increased offtake by stockists as well as bulk consumers, tracking a firming trend in global markets on supply concerns with Brazil, the leading producer of sugar, where supplies affected due to adverse weather.
Besides, reports of the International Sugar Organization (ISO) the market will record a deficit of 5 million metric tonnes of sugar in the current year, fuelling sudden spurt sugar exports, leading to the rise in its prices.

Meanwhile, sugar prices in three days have gone up by a whopping Rs 150 per quintal on speculative buying.
Sugar ready M-30 and S-30 prices settled higher by Rs 80 each at Rs 3,300-3,460 and Rs 3,290-3,450 per quintal.
Mill delivery M-30 and S-30 prices ended higher by Rs 70 each to Rs 3,080-3,170 and Rs 3,070-3,160 per quintal.

In the millgate section, sugar Asmoli swifted Rs 70 at Rs 3,150, while Simbholi, Mawana and Khatuli by Rs 60 each at Rs 3,160, Rs 3,100 and Rs 3,160 per quintal.
Prices of Dorala, Ramala, Anupshaher, Sakoti, Chandpur and Malakpur also surged Rs 50 each at Rs 3,100, Rs 3,080, Rs 3,070, Rs 3,080, Rs 3,070 and Rs 3,080 per qunital, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-37.00 per kg.
Sugar ready: M-30 Rs 3,300-3,460, S-30 Rs 3,290-3,450.
Mill delivery: M-30 Rs 3,080-3,170, S-30 Rs 3,070-3,160.
Sugar millgate (including duty): Mawana Rs 3,100, Kinnoni Rs 3,170, Asmoli Rs 3,150, Dorala Rs 3,100, Budhana Rs 3,090, Thanabhavan Rs 3,080, Dhanora Rs 3,070, Simbholi Rs 3,160, Khatuli Rs 3,160, Dhampur Rs 3,070, Ramala Rs 3,080, Anupshaher Rs 3,070, Baghpat Rs 3,080, Morna Rs 3,080, Sakoti Rs 3,080, Chandpur Rs 3,070, Nazibabad Rs 3,070 and Malakpur Rs 3,080.