Sugar remains up on festival buying, tight stocks

NEW DELHI: Sugar prices rose further by Rs 50 per quintal in the wholesale sugar market in the national capital on Tuesday on increased buying by retailers and bulk consumers to meet the current festive and ensuing marriage season demand.

Marketmen said increased buying by bulk consumers and retailers to meet the current festival and ensuing marriage season demand mainly led to rise in sugar prices.

Expectations of fall in output due to deficient rain also boosted the market sentiments they said.

At spot market, sugar ready medium and second grades remained in demand and added another Rs 50 each at Rs 2,900-3,000 and Rs 2,890-2,990 per quintal.

Similarly, the mill delivery medium and second grades traded higher by the same margin at Rs 2,800-2,925 and Rs 2,790-2,875 per quintal.

In the millgate section, Mawana, Khatuali and Bundki also rose by Rs 50 each to Rs 2,800, Rs 2,800 and Rs 2,780 per quintal.