Sugar closes lower on adequate stocks, weak demand

Sugar prices tumbled by Rs 50 per quintal at the wholesale market in the national capital today on heavy stocks position amid low demand from bulk consumers.
Marketmen said fall in offtake by stockists, retailers and bulk consumers against ample stocks position in the market on persistent supplies by mills, mainly led to the fall in sweetener prices.
Besides, reports of a weakening trend in sugar prices in global markets, too weighed on prices, they added.
Sugar ready M-30 and S-30 prices were lower by Rs 50 each to Rs 2,650-2,800 and Rs 2,630-2,790 per quintal.
Mill delivery M-30 and S-30 were also lower by Rs 30 each to end at Rs 2,500-2,640 and Rs 2,490-2,630 per quintal.

In the millgate section, Khatuli and Bulandshaher lost Rs 50 each at Rs 2,620 and Rs 2,500, while Dhanora fell Rs 45 at Rs 2,525 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,650-2,800 S-30 Rs 2,630-2,790.
Mill delivery: M-30 Rs 2,500-2,640 S-30 Rs 2,490-2,630.
Sugar millgate (including duty): Mawana Rs 2,540, Kinnoni Rs 2,640, Asmoli Rs 2,640, Dorala Rs 2,560, Budhana Rs 2,550, Thanabhavan Rs 2,540, Dhanora Rs 2,525, Simbholi Rs 2,660, Modi Nagar Rs 2,540, Khatuli Rs 2,620, Dhampur 2,530, Ramala Rs 2,550, Bulandshaher Rs 2,500, Anupshaher Rs 2,530, Baghpat Rs 2,550, Morna Rs 2,550, Sakoti Rs 2,530, Chandpur Rs 2,500, Nazibabad Rs 2,540.