India sugar up in Muzaffarnagar as govt caps monthly sales by mills.

Prices of sugar rose in the key wholesale markets of Muzaffarnagar due to a fall in stock. However, the prices remained unchanged in other major markets in country. Stocks in market have reduced after government put restrictions on sales by mills as they have raised their prices. To check oversupply of sugar in wholesale markets, the government last week mandated that mills should hold at least 83% of the closing stocks of January till the end of February, and 86% of February’s closing stocks till the end of March.