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Domestic Sugar Prices Mostly Weak On Ample Supplies

23 Jul 2019 6:51 pm
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NEW DELHI (Commoditiescontrol) - Sugar prices remained mostly weak at the major Mumbai market on Tuesday because of sufficient supply amid limited demand.

In Mumbai, prices were at Rs 3,186-3,232 a quintal for S-grade and at Rs 3,212-3,316 for M-grade, as per Bombay Sugar Merchants Association.

As per traders, there is not much movement in the market in terms of prices. Typically demand remains lower during this month and there is no festival demand either right now.

Meanwhile, the Parliament was informed on Tuesday that the cane dues to be paid by sugar mills to farmers has come down to Rs 15,222 crore so far in marketing year 2018-19, that will end in September, because of the Centre’s intervention.

Depressed sugar prices due to surplus sugar production in sugar seasons 2017-18 and 2018-19 adversely affected the liquidity of sugar mills resulting in accumulation of cane price arrears of the farmers.

The cane arrear of the 2017-18 marketing year has also come down to Rs 285 crore, Food Minister Ram Vilas Paswan said in a written reply in the Lok Sabha.

(By Commoditiescontrol Bureau)

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