Spot Market Update: Sugar Stays Mixed, Traders Hopeful Of Government Initiatives

Sugar prices stayed mixed after the recent spurt as traders are expecting more clarity on front of the government policies. The industry is hopeful that the government would to approve a plan to set a minimum price at which millers can sell sugar, among a series of steps, to help improve domestic prices that have fallen below the cost of production amid a glut in production of the sweetener. Spot Sugar in Muzaffarnagar is quoting at Rs 2888 per quintal, up 0.17% on the day.