Release of Additional Freesale SugarQuota

Sugar prices crashed by Rs. 400-500 a tonnes today as the trade and industry sources get panicky with the government decision to release 86,000 tonnes additional free sale quota for the current month. 

The govt. has today released additional free sale quota of 50,000 tonnes for all mills, 20,000 tonnes for all mills in Maharashtra, 10,000 tonnes for mills in Karnataka and 6,000 tonnes for mills in Tamil Nadu, Thus, along with earlier release of 9 lakh tonnes quota, the total free sale release for the current month has gone up to 9.86 lakh tonnes.  The additional quota for Maharashtra, Karnataka and Tamil Nadu mills is the conversion of levy quota not lifted by various states, reported from Mumbai bureau.

Market Update
(Sugarcane)