Sugar closes lower on reduce offtake, ample supply

Sugar prices fell by Rs 25 per quintal in the national capital today driven by ample supply from mills amid reduced offtake.

Marketmen said adequate stocks position along with increased arrivals from mills, supported by reduced offtake by bulk and retailer consumers, led to a fall in sugar prices.

Sugar mill delivery medium and second grade prices lost from Rs 2,780-3,000 and Rs 2,940-3,040 to settle at Rs 2,755- 2,975 and Rs 2,745-2,965 per quintal, respectively.

Sugar spot medium and second grade eased by Rs 20 each to Rs 2,930-3,030 and Rs 2,920-3,020 per quintal, respectively.

Among millgate section excluding duty, sugar Thanabhavan and Dorala dipped by Rs 25 each to Rs 2,925 and Rs 2,955 per quintal.

Following are today's rates in Rs per quintal:

Sugar ready M-30 2,930-3,030 and S-30 2,920-3,020.

Mill delivery M-30 2,755-2,975 and S-30 2,745-2965.

Sugar mill gate prices (excluding duty): Kinonni 3,030, Asmoli 3,025, Mawana 2,955, Titabi 2,945, Thanabhavan 2,920, Budhana 2,930 and Dorala 2,955.