Sugar declines on ample supply
Sugar prices softened by Rs 20 per quintal in the national capital today, following ample supply amid reduced offtake.
Market analysts said fresh supply created adequate stock position in the market amid restricted buying mainly pulled down sugar prices.
Sugar ready medium and second grade prices fell by Rs 20 each to Rs 2,880-2,960 and Rs 2,850-2,950 per quintal, respectively.
Milll delivery medium and second grade prices also moved down by Rs 20 each to Rs 2,680-2,850 and Rs 2,650-2,825 per quintal, respectively.
Following were today's quotation in Rs per quintal.
Sugar ready M-30 2,880-2,960 and S-30 2,850-2,960
Mill delivery M-30 2,680-2,850 and S-30 2,650-2,825
Sugar mill gate prices (excluding duty): Kinonni 2,830, Asmoli 2,810, Mawana 2,760, Titabi 2,770, Thanabhavan 2,670, Budhana 2660 and Dorala 2,760