Sugar falls on adequate supplies

Sugar prices declined by up to Rs 80 per quintal on the wholesale sugar market today, on adequate stocks following increased arrivals from mills amid reduced offtake by stockists and retailers.

Market analysts said comfortable stocks following increased arrivals from mills against reduced offtake by stockists and retailers, mainly pulled down wholesale sugar prices. 

Sugar ready medium and second grade prices declined by Rs 30 each to Rs 2,950-3,075 and Rs 2,925-2,950 per quintal, respectively. 

Similarly, the sugar mill delivery medium and second grade prices plunged by Rs 80 each to Rs 2,700-2,850 and Rs 2,685-2,825 per quintal, respectively.

In the millgate section, Kinonni and Asmoli also traded lower by Rs 10 each to Rs 2900 and Rs 2880 per quintal, respectively.

The following were today's quotation in Rs per quintal

Sugar ready M-30 2,950-3,075 and S-30 2,925-2,950 Mill delivery M-30 2,700-2,850 and S-30 2,685-2,825

Sugar mill gate prices (excluding duty): Kinonni 2,900, Asmoli 2,880, Mawana 2,850, Titabi 2,820, Thanabhavan 2,790, Budhana 2785 and Dorala 2,835