Sugar rises further on tight supply, brisk demand

Sugar prices remained in keen demand in the wholesale sugar market at the national capital today on the back of renewed buying by stockist and bulk consumers, against tight supply from mills.
Marketmen said thin supply from mills, against pick up in demand from stockist, retailers and bulk consumers such as soft-drink and ice-cream makers mainly pushed up sweeter prices.
They said a firming trend in futures trading by touching seven-month high on more demand in the upcoming summer season were key factor for the upsurge.
Government notification on export subsidy along with interest free loan to mills for clearing their dues for sugarcane purchased, continued to support the market, they added.

Sugar ready M-30 and S-30 prices climbed by Rs 40 to settle at Rs 3,200-3,400 and Rs 3,190-3,390 from Rs 3,170-3,360 and Rs 3,160-3,350 per quintal, respectively.
Similarly mill delivery M-30 and S-30 prices improved from Rs 3,000-3,200 and Rs 2,990-3,190 to Rs 3,050-3,200 and Rs 3,240-3,190 per quintal.

Among millgate section, sugar Kinnoni enquired higher at Rs 3,200, Mawana at Rs 3,100 and Dhampur rose by Rs 20 at Rs 3,090 per quintal.
The following are today's quotations per quintal:
Sugar ready: M-30 Rs 3,200-3,400, S-30 Rs 3,190-3,390.
Mill delivery: M-30 Rs 3,050-3,200; S-30 Rs 3,040-3,190.
Sugar mill gate (including duty): Mawana 3,140, Kinnoni 3,200, Asmoli 3,160, Dorala 3,130, Budhana 3,140, Thanabhavan 3,130, Dhanora 3,140, Simbholi 3,200, Modi Nagar Rs 3,140, Khatuli 3,180, Dhampur 3,100, Ramala 3,050, Bulandshar 3,110, Anupshar 3,040, Baghpat 3,060, Morna 3,050, Sakoti 3,080, Chandpur 3,075, Amroha N.T. And Nazibabad 3,060.