Sugar Market Witnessed Drop In Prices Owing Notable Production And Supply From Mills

Dec-2017 | 99Strategy | Agriculture

The Indian Sugar Mills Association ISMA has estimated the production of 251 lakh ton of sugar this year, which was 202 lakh ton in the previous year. Issuing the latest data of production estimates, ISMA said that sugar production has increased to 39.51 lakh ton during the period from October to November, which is more than the production of 27.82 lakh ton till last year.

Prices of sugar production M.30 and S.30 closed at Rs 3,560–3,750 and Rs 3,550–3,740 per quintal, respectively, at the weekend with a fall of Rs 100. Prices of sugar delivery from mills of M.30 and S.30 grade sugar declined by Rs 85 to Rs 3,350–3,520 and Rs 3,340–3,510 per quintal, respectively, on weekends.

In the mill gate segment, the prices of sugar Dhampur, Anupshahr, Sakoti, Chandpur, Modinagar, and Bagpatt dropped by Rs 100 each to Rs 3,365, Rs 3,360, Rs 3,400, Rs 3,345, Rs 3,405 and Rs 3,380 per quintal, respectively.

Prices of Sugar Dorra, Thanabhan, Old age, Dhanora, Simbholi, Khatauli, Morna, Najibabad and Shamli also declined by Rs 90 to Rs 3,440, Rs 3,435, Rs 3,440, Rs 3,475, Rs 3,485, Rs 3,505, Rs 3,375. The price of Chinese Kinnauri declined by Rs 85 to Rs 3,520, Mawna fell by Rs 80 to Rs 3,440, Nanota lost Rs 75 to Rs 3,365, and the price of sugar was Rs 60 at Rs 3,495 per quintal.

The trading pattern remained unchanged in the overall Indian wholesale sugar market and specifically in the capital in terms of prices. Satisfactory rain and supporting climate are also factors responsible for the flourishing production of sugar. Farmers adopting diverse technology for production and cultivation have also helped to spur the cultivation figures. This is also responsible for the growth of the sugar production. Supporting business conditions implemented by several state governments is also a key factor responsible for the growth of the sugar production, boosting the growth of the sugar market.