NEW DELHI (Commoditiescontrol) –Sugar prices rose second straight session this week on Tuesday at Muzaffarnagar spot market while demand remained weak at higher prices.
Sugar millers of Uttar Pradesh have raised their prices quotes following which spot rates were quoted higher, said a local trader.
Mill rates were quoted Rs. 30-35 up while prices of the sweetener in the wholesale market were Rs. 40/100kg higher from previous session.
M-grade sugar was priced at Rs.3,900/100kg and S-grade sugar was offered at Rs. 3,880/100kg while mill rates were quoted at Rs. 3,860-3,870/100kg. Arrivals were around 700-800 bags.
By 1609 IST, sugar future contract for delivery in March was Rs. 10 or o.26 percent down at Rs. 3,865 due to profit booking as it opened firm at Rs. 3,880/100kg.