Sugar Rises In Kolkata, Mumbai On Fresh Buying At Lower Prices

NEW DELHI (Commodities control) Sugar prices gained slightly in country’s two metros Mumbai and Kolkata as demand recovered at lower prices. It is to be noted that sugar prices were facing bearish trend consecutively for last 10-12 days. Other regions have noted steady trend in the prices.

Sugar prices gained Rs. 20 per quintal in Kolkata. M grade sugar increased from Rs. 3470-3480 to Rs. 3490-3500 per quintal. Similarly, S grade sugar gained Rs. 20 to Rs. 3440-3450 per quintal. M grade sugar inched up Rs. 12 to Rs. 3216-3442 per quintal (GST Extra) in Mumbai Vashi market. Kolkata based trader Mr. Prakash Bhalotia told that the market witnessed slightly higher demand at lower prices. Recent fall made the price more attractive for the buyers. However, He does not see sustainable price rise due to poor market sentiments.

Market sources told that dominant Kolkata market player Balrampur mills have increased their selling prices by Rs. 20 per quintal so the market passed on to buyers. But it is notable to see that better demand has allowed for this price rise. However, other markets did not see any price change. A Delhi trader said that millers did not change their selling prices so market prices was hovering at previous level. The millers were trying to manage their financial needs at current slow sale.