India sugar spot prices soar on frantic buying, tight supply.

Sugar prices jumped up to Rs 230 per quintal at the wholesale market in the national capital today on tight supplies from mills amid immense buying by stockists and bulk consumers. Marketmen said, brisk buying by stockists and bulk consumers further fuelled up by thin arrivals from mills, mainly led to a spurt in sugar prices. To curb falling sugar prices, government had taken two decisions; doubling up the import duty from 50 per cent to 100 per cent, followed by the cap on sales by mills for February and March.