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Sugar Markets Looks For Decision On MSP Hike, Prices Remain Steady

26 Sep 2020 5:37 pm
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NEW DELHI (Commodities control) Sugar prices remained steady in across the markets but the traders expected for early announce of sugar package including hike in Minimum Selling Price (MSP). Few sugar mills have increased sugar prices hoping for hike in MSP.


Sugar prices were moving at previous level. In Delhi M grade sugar was traded at Rs. 3480-3560 per quintal. S grade was sold at Rs. 3460-3550 per quintal. Similar traded was noted in all the mandis of the country. A Delhi based trader Mr. Sushil Agrawal told that market expected early decision on sugar MSP. Although, prices remained stable. As per market sources, few mills from Uttar Pradesh increased mill rate in the hope of MSP. It was expected that the government will take decision on hike MSP from Rs. 3100 to Rs. 3300 per quintal.



A Hyderabad based traded Mr. Sandesh Singh explained that the government has to weigh various options to give relief for sugar industry. If the government approves sugar export subsidy or buffer stock subsidy, financial burden will go to the exchequer. It was very tough time for government to bear such burden. If it decides for MSP, the burden will go to public. The government has another option of ethanol price hike to respite sugar mills. However, if it decides for ethanol price hike, sugar prices will not improve immediately.


Market

Grade

26-Sep

25-Sep

Change

Delhi

M-31

3480-3560

3480-3560

0

(Including GST)

S-31

3460-3550

3460-3550

0

Muzaffarnagar (UP)

M-31

3440-3540

3440-3540

0

(Including GST)

S-31

3410-3500

3410-3500

0

Kanpur (UP)

M-31

3500-3570

3500-3570

0

(Including GST)

S-31

3450-3530

3450-3530

0

Kolhapur (Maha)

M-30

3250-3300

3250-3300

0

GST Extra

S-30

3180-3230

3180-3230

0

Vashi- Mumbai

M-30

3350-3400

3350-3400

0

GST Extra

S-30

3300-3330

3300-3330

0

Naka- Mumbai

M-30

3340-3370

3340-3370

0

GST Extra

S-30

3245-3295

3245-3295

0

Hyderabad (Tel)

M-30

3340-3370

3340-3370

0

GST Extra

S-30

3295-3310

3295-3310

0

Bangaluru (Ktk)

M-30

3360-3380

3360-3380

0

GST Extra

S-30

3330-3360

3330-3360

0

Chennai (TN)

M-30

3450-3470

3450-3470

0

GST Extra

S-30

3400-3420

3400-3420

0

Kolkata Ex-Rly Siding

M-30

3610-3620

3610-3620

0

Kolkata Ex-Dankuni

S-30

3570-3680

3570-3680

0

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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