Sugar Prices Gain In Kolkata, North Market Looks Upside In Coming Days

NEW DELHI (Commodities control) Sugar prices have seed positive move today in Kolkata as demand was slightly better. However, steady trend prevailed in other major trading centres of the country. But traders from Delhi expected that sugar prices may rise after couple of days as Millers from Uttar Pradesh have reduced selling ahead of Holi demand. Meanwhile, Sugar produced reached to 233 lakh MT till February which was 9.56 percent higher than production of same period in last season.

Sugar prices gained Rs. 20 in Kolkata market which is major trading hub for eastern market. Traders said that demand was better so the market noted positive move after long sluggish trend. Sweet makers and retailers were buying sugar in larger quantity. Normally, sugar demand picks up in first week of every month due to retail demand. Current demand was move than regular monthly buying which support market sentiments.

But the price remained stable in northern, western and southern regions. A Hyderabad based industry expert said that market prices were moving at previous level because demand was average. Similarly, A Delhi trader commented that the prices were unchanged but the prices are likely to gain after couple of days. He explained that UP millers have reduced selling ahead of Holi demand. Available stocks will be sold out in few days and lower sales from millers will push up prices. Millers expected better demand after one week so they will be in a position to raise ex-mill prices.