Sugar rises to three-year high on robust demand

Sugar prices firmed up further by Rs 80 per quintal to touch nearly three-year high at the wholesale market in the national capital today as widening of the gap between demand and supply due to lower carryover stocks, triggered by robust demand ahead of festivals.
Marketmen said besides lower carryover stocks, heavy offtake by stockist, retailers and bulk consumers such as soft-drink, ice-cream and sweet makers following ongoing festivals, sparked by higher mills advice, mainly brought the sharp upsurge in sweetener prices, touched almost three year high.
Earlier, last week the government had imposed stock limit on sugar stock to control sweetener prices. But this measure couldn't impact much on market, they added.

Sugar ready M-30 and S-30 prices jumped up by Rs 75 each to end Rs 3,920-4,100 and S-30 Rs 3,910-4,090 per quintal.
Likewise, mill delivery M-30 and S-30 prices climbed up by Rs 80 each to settle at Rs 3,570-3,790 and Rs 3,560-3,780 per quintal.
Among millgate section, sugar kinnoni, Simbholi and Khatuli all spurted by Rs 80 each to Rs 3,790, Rs 3,770 and Rs 3,760, while Asmoli showed a gain of Rs 70 at Rs 3,730 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 38.00-43.00 per kg.
Sugar ready: M-30 Rs 3,920-4,100, S-30 Rs 3,910-4,090.

Mill delivery: M-30 Rs 3,570-3,790, S-30 Rs 3,560-3,780.
Sugar millgate (including duty): Mawana Rs 3,680, Kinnoni Rs 3,790, Asmoli Rs 3,730, Dorala Rs 3,660, Budhana Rs N.T., Thanabhavan Rs N.T., Dhanora Rs 3,620, Simbholi Rs 3,770, Khatuli Rs 3,760, Dhampur Rs 3,610, Ramala Rs 3,590, Anupshaher Rs 3,570, Baghpat Rs 3,600, Morna Rs 3,600, Sakoti Rs 3,630, Chandpur Rs 3,610, Nazibabad Rs 3,590 and Malakpur Rs N.T.