Sugar spurts on stockists buying amid policy action
Trading sentiment turned highly bullish, as centre on Wednesday decided to free sugar exports by removing quantitative restrictions, triggering heavy buying activity, traders said.
Medium sugar (M-30) surged by Rs 30/39 per quintal to Rs 3,041/3,151 from its overnight closing level of Rs 3,002/ 3,121.
Small sugar (S-30) also rose by Rs 13 per quintal to Rs 2,912/2,975 as against Rs 2,912/2,962 yesterday.
The following are today's closing rates for sugar (per quintal), with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 3,041/3,151 (Rs 3,002/3,121).
Small sugar (S-30) quality: Rs 2,912/2,975 (Rs 2,912/2,962). PTI EDM RAH
YB