Sugar up as govt approves Rs 4,500 crore package

A significant rise of up to Rs 170 per quintal in sugar prices, characterised trading at the wholesale market in the national capital Wednesday after government approved a Rs 4,500 crore package for the industry.

Sentiment got a boost after the package that includes over two-fold jump in production assistance to cane growers and transport subsidy to mills for export up to 5 million tonnes in the marketing year 2018-19, traders said.

Besides, tight supplies from mills on hopes of further upmove in sweetener prices also boosted sentiment, they added.

Sugar ready M-30 and S-30 prices jumped by Rs 170 each to finish the day at Rs 3,550-3,750 and Rs 3,540-3,740 per quintal.

Mill delivery M-30 and S-30 prices also climbed by Rs 160 each to end the day at Rs 3,270-3,490 and Rs 3,260-3,480 per quintal, respectively.

In the mill gate section, sugar Kinnoni and Asmoli shot up by Rs 160 each to Rs 3,490 and Rs 3,470, Dhanora hardened by Rs 155 to Rs 3,470, Khatuli spurted by Rs 145 to Rs 3,470, Dhampur by Rs 13 to Rs 3,270 and Sakoti gained by Rs 120 to Rs 3,270 per quintal.

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