Sugar prices at 3-year high ahead of festivals, new month
Marketmen say increased offtake by bulk consumers ahead of auspicious ‘Navratras’ mainly lifted the sweetener prices to trade at fresh three-year highs
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New Delhi: Sugar prices soared to trade at fresh three-year high surging by up to Rs50 to Rs4,150 per quintal at the wholesale market in the national capital on Friday following increased demand ahead of festive season amid tight supplies from mills.
Marketmen said increased offtake by bulk consumers ahead of auspicious “Navratras”, beginning from Saturday supported by tight supplies from mills, mainly lifted the sweetener prices to trade at fresh three-year highs.
Moreover, reports of bullish trend overseas and reports of lower domestic output too gave push to the surging prices, they added. Sugar ready M-30 and S-30 prices climbed up by Rs50 to end at Rs3,920-4,150 and Rs3,910-4,140 per quintal.
Mill delivery M-30 and S-30 prices also finished higher by Rs40 each to Rs3,610-3,790 and Rs3,600-3,780 per quintal.
In millgate section, sugar Baghpat rose the most by Rs50 to Rs3,620, followed by khatuli, dhampur and morna by Rs40 each to Rs3,790, Rs3,620 and Rs3,610 per quintal, respectively.
Sugar Asmoli, Dhanora, Ramala, Sakoti and Anupshaher also edged up by Rs30 each to Rs3,740, Rs3,620, Rs3,600, Rs3,630 and Rs3,600 per quintal, respectively.
Following are Friday’s quotations (in Rs per quintal) Sugar retail markets —Rs41.00-44.00 per kg. Sugar ready: M-30 Rs3,920-4,150, S-30 Rs3,900-4,140.
Mill delivery: M-30 Rs3,610-3,790, S-30 Rs3,600-3,780.