Sugar futures surge Rs 80 per quintal

NEW DELHI: Sugar prices spurted by Rs 80 per quintal in the national capital today following higher mills advices after the government partially decontrolled the sugar sector even as demand remained subdued.

Prices of sugar ready M-30 and S-30 hardened to Rs 3,350-3,480 and Rs 3,325-3,450 from Rs 3,300-3,400 and Rs 3,275-3,375 per quintal, respectively.

Mill delivery M-30 and S-30 prices also moved up from Rs 3,150-3,250 and Rs 3,140-3,225 to end at Rs 3,160-3,300 and Rs 3,150-3,275 per quintal.

"Higher prices quoted by millers after the government partially decontrolled the sugar sector mainly attributed rise in the sweetener prices even as demand in the wholesale market remained subdued", said sugar merchant, Sushil kumar of M/S. Agarwal sugar.

Among millgate including duty section, sugar Ramala, Baghpat and Morna prices improved by Rs.30 each to settle at Rs 3,190, Rs 3,200 and Rs 3,190 per quintal.

In line with general trend, sugar Sakoti rose by Rs 20 to Rs 3,210 per quintal, while Chandpur and Amroha also moved up by similar margin to Rs 3,220 per quintal each.