Sugar prices were sharply higher on the local grain markets on Monday as supply was tight amid increasing demand. On the cereals side, sugar gained Rs 100 to Rs 2435 and Rs 2470. Gur better type followed suit and rose by Rs 50 to Rs 2300 while the low type did not show any change at Rs 1900. Khandsari better type picked up Rs 100 to Rs 2350 while the other type firmly held its overnight level at Rs 1950. Bajra inferior type gained Rs 10 to Rs 1400 and good type maintained its last level at Rs 1525.

Makai inferior type gained Rs 25 to Rs 1025, while the other type maintained overnight level. Juwar best type picked up Rs 50 to Rs 1150 but other quality sustained its overnight level at Rs 950.

On the seed side, rapeseed Nawabshah lost Rs 25 to Rs 775. Rapeseed cake was higher by Rs 5. Cottonseed oilcake with bag gained Rs 12 to Rs 415-420. Castorseed Sindh good type gained Rs 15 to Rs 740 and low type picked up Rs 10 to Rs 750.

Copyright Business Recorder, 2005