Sugar prices recover on heavy bulk consumers demand

Navi Mumbai, Nov 20 (UNI) Wholesale spot sugar prices today recovered smartly by Rs 25 on sustained heavy buying support from bulk consumers in view of lesser arrival of stocks from co-operative mills, traders at the Bombay Sugar Merchants' Association said.

Prices of small grade and medium grades were up by Rs 25 and Rs 15 per quintal respectively due to lack of offers by stockists because of shortage of ready stocks at the domestic markets.

Sugar in ex-mill small and medium grades also gained by Rs 10 per quintal each due to improved demand by bulk consumers, traders added.

Following are the spot wholesale rates per quintal: Small grade: Rs 1,325/1,396, Medium grade: Rs 1,375/1,485.

Ex-mill Small grade: Rs 1,310/1,330, Medium grade: Rs 1,350/1,380.

UNI