Ample stocks drag down sugar prices

Sugar prices ended lower at the wholesale market today following adequate stocks position on higher supplies from mills against subdued demand.
Marketmen said sufficient stocks position on the back of higher supplies from mills against muted demand from retailers as well as bulk consumers mainly kept pressure on sugar prices.
In the national capital, sugar ready M-30 and S-30 slipped to Rs 3,150-3,280 and Rs 3,140-3,270 from previous levels of Rs 3,180-3,350 and Rs 3,170-3,340 per quintal, respectively.
Similarly, mill delivery M-30 and S-30 eased to Rs 2,920-3,045 and Rs 2,910-3,035 against last close of Rs 2,980-3,100 and Rs 2,970-3,090 per quintal respectively.

Similar trend extending to millgate side, sugar Mawana, Kinnoni, Asmoli, Dorala and Budhana also quoted lower at Rs 2,965,Rs 3,045, Rs 3,040, Rs 2,965 and Rs 2,970 instead of Rs 3,040,Rs 3,100, Rs 3,080, Rs 3,040 and Rs 3,040 per quintal, respectively.
Thanabhavan, Dhanora, Simbholi, Khatuli, Dhampur and Ramala too fell to Rs 2,960, Rs 2,940, Rs 3,025, Rs 3,000, Rs 2,940 and Rs 2970 as compared to previous levels of Rs 3,030, Rs 3,020,Rs 3,075, Rs 3,060, Rs 2,980 and Rs 3,010 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-36.00 per kg.

Sugar ready: M-30 Rs 3,150-3,280, S-30 Rs 3,140-3,270.
Mill delivery: M-30 Rs 2,920-3,045, S-30 Rs 2,910-3,035.
Sugar millgate (including duty): Mawana Rs 2,965, Kinnoni Rs 3,045, Asmoli Rs 3,040, Dorala Rs 2,965, Budhana Rs 2,970, Thanabhavan Rs 2,960, Dhanora Rs 2,940, Simbholi Rs 3,025, Khatuli Rs 3,000, Dhampur Rs 2,940, Ramala Rs 2,970, Anupshaher Rs 2,960, Baghpat Rs 2,980, Morna Rs 2,980, Sakoti Rs 2,940, Chandpur Rs 2,920, Nazibabad Rs 2,970 and Malakpur Rs 2,910.