Average spot sugar prices of Kanpur market in Jan’10 has increased by 16% to Rs 41,351 from Rs 35,678 in Dec’09.
The spot sugar price of Kanpur market on Feb1, 2010 was Rs 42,225/T.
The prices of sugar hit all time high of Rs. 44,000 per ton in January due to anticipated fall in domestic sugar output and increasing demand for sweets & other confectionary
as the January month is marked by festivals in parts of the country.
In last one year the spot prices have seen a growth of over 75%, from Rs.23,800/MT to Rs42,000/MT on Jan 30’10.
U.P. government has still not lifted the ban in U.P. on the rake movement of imported raw sugar.
Central government may allow U.P. mills to sell imported raw sugar lying at port to the other sugar mills in other states, gazette notification is expected in a few days.