Sugar closes lower on ample stocks, low demand

Sugar prices softened by Rs 30 per quintal at the wholesale market in the national capital today owing to adequate stocks on persistent supplies by mills against low demand from bulk consumers and retailers.
Marketmen said sentiments remained weak largely due to mounting stocks, following persistent supplies by mills against fall in demand due to end of festive season, which pulled down sugar prices.
They said, however, that some buying support following beginning of new month, limited the fall in prices.
Sugar ready M-30 and S-30 prices dropped by Rs 30 to settle at Rs 3,020-3,260 and Rs 3,010-3,250 per quintal, respectively.

Mill delivery M-30 and S-30 prices moved down by Rs 10 each to Rs 2,870-3,110 and Rs 2,860-3,090 per quintal, respectively.
In millgate section, sugar Mawana dropped the most by falling Rs 30 to Rs 3,020, followed by Modinagar and Bulandshar by Rs 20 each to Rs 2,950 and Rs 2,970 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 32.00-35.00 per kg.
Sugar ready: M-30 Rs 3,020-3,260, S-30 Rs 3,010-3,250.
Mill delivery: M-30 Rs 2,870-3,110, S-30 Rs 2,860-3,090.
Sugar mill gate (including duty): Mawana Rs 3,020, Kinnoni Rs 3,110 Asmoli Rs 3,060 Dorala Rs 3,020 Budhana Rs 3,000 Thanabhavan Rs 2,990 Dhanora Rs 2,970 Simbholi Rs 3,100 Modi Nagar Rs 2,950, Khatuli Rs 3,055 Dhampur (gila) Rs 2,860 Ramala Rs 2,900 Bulandshahr Rs 2,970 Anupshahr Rs 2,870 Baghpat Rs 2,910 Morna Rs 2,900 Sakoti Rs 2,950 Chandpur Rs 2,950 and Nazibabad Rs 2,890.