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Sugar prices ease as govt discuss banning futures trade

Press Trust of India  |  New Delhi 

Sugar millgate prices slipped further by up to Rs 20 per quintal at the wholesale market in the national capital today on increased supplies form mills amid reports that the government is planning to ban futures trading in sweetener.

Finance Minister Arun Jaitley yesterday held an inter-ministerial consultation on imposing ban on sugar futures trading in an effort to curb speculation and check price rise of the sweetener during festival season, which dampened sentiment, traders said.

Increased supplies from mills in the market and fall in demand from bulk consumers too kept pressure on the sweetener prices, they added.

In the millgate section, sugar Mawana and Nazibabad dropped by Rs 20 each to Rs 3,600 and Rs 3,560, while Budhana, Thanabhavan and Anupshahar shed Rs 10 each to Rs 3,550, Rs 3,540 and Rs 3,560 per quintal.

Sugar prices in the retail markets have risen in last few weeks and are ruling at Rs 42 per kg in the national capital.

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

Sugar retail markets - Rs 38.00-41.00 per kg.

Sugar ready: M-30 Rs 3,830-3,930, S-30 Rs 3,820-3,920.

Mill delivery: M-30 Rs 3,540-3,620, S-30 Rs 3,530-3,610.

Sugar millgate (including duty): Mawana Rs 3,600, Kinnoni Rs 3,620, Asmoli Rs 3,600, Dorala Rs 3,575, Budhana Rs 3,550, Thanabhavan Rs 3,540, Dhanora Rs 3,530, Simbholi Rs 3,620, Khatuli Rs 3,600, Dhampur Rs 3,540, Ramala Rs 3,580, Anupshaher Rs 3,560, Baghpat Rs 3,600, Morna Rs 3,600, Sakoti Rs 3,550, Chandpur Rs 3,540, Nazibabad Rs 3,560 and Malakpur Rs N.T.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 23 2016. 14:48 IST