Sugar prices at one-year high on robust demand, thin supply

Sugar prices shot up by Rs 30 per quintal to trade at one-year high of Rs 4,120-4,230 per quintal at the wholesale market in the national capital today following brisk buying by stockists and bulk consumers coupled with tight supplies from mills.

Marketmen said apart from tight stocks position due to pause in supplies from mills, increased offtake by stockists and bulk consumers such as soft-drink and ice-cream makers, lifted sweetener prices to quote at one-year high.

Sugar ready M-30 and S-30 prices hardened by Rs 30 each to end at Rs 4,120-4,230 and Rs 4,110-4,220 per quintal respectively.

Mill delivery M-30 and S-30 prices also enquired higher by Rs 20 each to settle the day at Rs 3,665-3,860 and Rs 3,655-3850 per quintal, respectively.

In the millgate section, sugar Simbholi, Khatuli, Ramala, Baghpat, Morna, Nazibabad, Nanota and Anupshaher rose by Rs 30 each to conclude at Rs 3,840, Rs 3,850, Rs 3,685, Rs 3,700, Rs 3,695, Rs 3,670, Rs 3,695 and Rs 3,665 per quintal respectively.

Prices of Kinnoni, Asmoli, Dorala, Budhana, Thanabhavan and Dhampur also advanced by Rs 20 each to Rs 3,860, Rs 3,800, Rs 3,785, Rs 3,780, Rs 3,775 and Rs 3,740 per quintal respectively.