Sugar prices spurts on robust demand

Sugar prices spurted at the Vashi wholesale market here today on strong buying by stockists and bulk traders.

"The May month allocation of non-levy sugar for sale in the open market seems to be fell short of expectation, which boosted the trading sentiment," traders said.
     
Meanwhile, the government has made available 19.63 lakh tonnes of sugar (levy sugar 2.13 lakh tonne and non-levy sugar 17.50 lakh tonne) for the month of May.
     
Medium sugar (M-30) surged by Rs5/60 per quintal to Rs2,801/2,896 from its overnight closing level of Rs2,741/2,891.
     
Small sugar (S-30) also rose by Rs11/29 per quintal to Rs2,752/2,800 as against Rs2,741/2,771 yesterday.
     
The following are today's closing rates per quintal, with the previous rates in brackets: Medium sugar (M-30) quality Rs 2,801/2,896 (Rs 2,741/2,891) and Small sugar (S-30) quality Rs 2,752/2,800 (Rs2,741/2,771).