Sugar drops on record output estimates, low demand

Sugar prices slipped due to adequate stocks position in the wholesale market today in the national capital on estimates of record output this marketing year amid sluggish demand from bulk consumers.
Marketmen said persistent supplies by mills, triggered by estimates of a record output this marketing year, mainly dragged down the sweetener's prices.
Meanwhile, India's sugar production is estimated to touch all-time high of 28.3 million tonnes (MT) in the ongoing marketing year, 2014-15, as mills have already manufactured 27.95 MT so far, industry body Indian Sugar Mills Association (ISMA) said in its latest estimate.
Sugar ready M-30 and S-30 eased to Rs 2,560-2,680 and Rs Rs 2,530-2,660 against last close of Rs 2,580-2,690 and Rs 2,550-2,680 per quintal respectively.

Similarly, mill delivery M-30 and S-30 slipped to Rs 2,390-2,530 and Rs 2,370-2,500 from previous levels of Rs 2,410-2,540 and Rs 2,400-2,530 per quintal respectively.
In the millgate section, Mawana, Kinnoni,Asmoli and Dorala were quoted lower at Rs 2,435, Rs 2,520, Rs 2,490 and Rs 2,445 instead of Rs 2,450, Rs 2,540, Rs 2,520 and Rs 2,460 per quintal respectively.

Budhana, Thanabhavan and Dhanora also traded lower at Rs 2,435, Rs 2,425 and Rs 2,425 as compared to previous levels of Rs 2,450,Rs 2,440 and Rs 2,440 per quintal respectively.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 29.00-33.00 per kg.

Sugar ready: M-30 Rs 2,560-2,680 S-30 Rs 2,530-2,660.
Mill delivery: M-30 Rs 2,390-2,530 S-30 Rs 2,370-2,500.
Sugar millgate (including duty): Mawana Rs 2,435, Kinnoni Rs 2,530, Asmoli Rs 2,490, Dorala Rs 2,445, Budhana Rs 2,435, Thanabhavan Rs 2,425, Dhanora Rs 2,425, Simbholi Rs 2,520, Modi Nagar Rs 2,440, Khatuli Rs 2,510, Dhampur 2,405,Ramala Rs 2,390, Bulandshaher Rs 2,410, Anupshaher Rs 2,430,Baghpat Rs 2,450, Morna Rs 2,410, Sakoti Rs 2,420, Chandpur Rs 2,410, Nazibabad Rs 2,390.