Sugar ends lower on sluggish demand

Sugar prices softened by Rs 50 per quintal in the national capital today on ample supply amid reduced offtake.

Marketmen said, increased arrivals from mills against slack demand pulled down the sugar prices. Weakening of prices in futures markets also dampened the trading sentiment to an extent, they said.

Sugar mill delivery medium and second grade prices lost from Rs 2,875-3,040 and Rs 2,860-3,025 to close at Rs 2,850 -3,000 and Rs 2,825-2,975 per quintal.

Sugar spot medium and second grade price also fell from Rs 3,125-3,225 and Rs 3,100-3,200 to end at Rs 3,100-3,200 and Rs 3,075-3,175 per quintal.

The following were today's quotation in Rs per quintal.

Sugar ready M-30 3,100-3,200 and S-30 3,075-3,175
Mill delivery M-30 2,850-3,000 and S-30 2,825-2,975

Sugar mill gate prices (excluding duty): Kinonni 2,990, Asmoli 2,970, Mawana 2,945, Titabi 2,940, Thanabhavan 2,900, Budhana 2890 and Dorala 2,930