Sugar extends gains

On the Navi Mumbai wholesale sugar market, a firm trend continued to rule on Friday as both prices of both small and medium qualities sugar improved further on persistent demand from retailers amidst tight supply position.

Small grade sugar (S-30) edged up further by Rs. 5 to Rs.1, 500/1,525 against previous level of Rs 1,500/1,520. Medium grade (M-30) also ended higher at Rs. 1,530/1,575 a quintal against overnight level of Rs. 1,528/1,575. Sugar prices for check-post stayed flat and were quoted at Rs. 1,485/1,500 a quintal for S-30 grade and Rs. 1,510/1,530 a quintal for M-30 grade.

Sugar prices for ex-mill deliveries remained under pressure and were offered as under: small sugar Rs. 1,430/1,445 and medium sugar Rs. 1,450/1,465 a quintal respectively.


Market Update (Sugarcane)