Sugar up as government allows export

Sugar prices surged by Rs 50 per quintal in the national capital today on the back of government's decision to allow export of sugar.

Market analysts said the trading sentiment turned bullish following government decision to allow export of five lakh tonnes of sugar under open general licence (OGL). 

Sugar ready medium and second-grade prices improved from Rs 2,950-3,075 to Rs 2,980-3,125 and Rs 2,935-3,050 to Rs 2,970-3,100 per quintal, respectively. 

Mill delivery medium and second grade prices also rose from Rs 2,740-2,890 to Rs 2,775-2,925 and Rs 2,725-2,850 to Rs 2,760-2,900 per quintal, respectively.   

Following were today's quotation in Rs per quintal.

 

Sugar ready M-30 2,980-3,125 and S-30 2,970-3,100
Mill delivery M-30 2,775-2,925 and S-30 2,760-2,900

Sugar mill gate prices (excluding duty): Kinonni 2,915, Asmoli 2,900, Mawana 2,880, Titabi 2,870, Thanabhavan 2,825, Budhana 2830 and Dorala 2,875