Sugar rallies on government decision to export the sweetener

MUMBAI: Both the varieties of sugar prices rallied further at the Vashi wholesale market here today on sustained demand amidst government decision on barter exports.

The Food ministry decision to export of surplus sugar of 4 million tonnes through barter trade with other nations propelled the sweetener, a trader said.

Small sugar (S-30) shot-up by Rs 60/42 per quintal to Rs 2,262/2,362 from Thursday's closing level of Rs 2,202/2,320.

Medium sugar (M-30) also advanced by Rs 68/38 per quintal to Rs 2,370/2,500 as compared to Rs 2,302/2,462.

Following are today's closing rates for sugar (per quintal) with the previous rates given in brackets:

Small sugar (S-30) quality: Rs 2,262/2,362 (Rs 2,202/2,320).

Medium sugar (M-30) quality: Rs 2,370/2,500 (Rs 2,302/2,462).