An upward trend remained unabated for the second straight week at the wholesale sugar market in the national capital during the week with prices spurting further by up to Rs 110 per quintal on frantic buying by stockists and bulk consumers along with thin supplies from mills.
Besides, reports that government may come up with measures to curb persistent fall in the sweetener’s prices, supported the upside.
Marketmen said apart from brisk buying by stockists and bulk consumers to meet summer season demand, reports that government may create 3 million tonnes of buffer sugar stocks and fix minimum sale price, kept sugar prices higher.
In price section, mill delivery M-30 and S-30 shot up by Rs 90 each to settle the week at Rs 2,950-3,150 and Rs 2,940-3,140 as compared with last week’s close of Rs 2,840-3,080 and Rs 2,830-3,070 per quintal, respectively.
Likewise, sugar ready M-30 and S-30 prices rose by Rs 50 each to end the week at Rs 3,250-3,380 and Rs 3,240-3,370 as compared to previous week’s close of Rs 3,200-3,350 and Rs 3,190-3,340 per quintal, respectively.
In the mill gate section, sugar Dhampur and Sakoti climbed by Rs 110 each to Rs 2,980 and Rs 3,000, while Asmoli, Dhanora and Modinagar hardened by Rs 100 each to Rs 3,080, Rs 3,090 and Rs 3,000 per quintal, respectively.
Sugar Shamli and Malakpur rallied by Rs 90 each to Rs 2,990 and Rs 3,000, while Mawana and Khatuli climbed by Rs 80 each to Rs 3,040 and Rs 3,120 per quintal, respectively.
Prices of Kinnoni, Dorala and Simbholi rose by Rs 70 each to Rs 3,150, Rs 3,030 and Rs 3,100, while Budhana and Thanabhavan gained by Rs 50 each to Rs 3,020 and Rs 3,030 per quintal, respectively.