Sugar drops on soaring stock, weak demand

Sugar prices declined by Rs 50 per quintal at the wholesale market in the national capital today following bumper stocks and limited offtake.

Marketmen said soaring stocks on bumper output amid thin demand from stockist and bulk consumers, mainly led to fall in sweetener prices.

Sugar ready M-30 and S-30 prices tumbled by Rs 50 each to end the day at Rs 3,380-3,490 and Rs 3,370-3,480 per quintal.

Mill delivery M-30 and S-30 prices also slipped by Rs 45 each to finish the day at Rs 3,150-3,285 and Rs 3,140-3,275 per quintal.

In mill gate section, sugar Dorala dropped by Rs 50 to Rs 3,290, while Kinnoni, Asmoli, Budhana and Thanabhavan slide by Rs 45 each to Rs 3,285, Rs 3,260, Rs 3,180 and Rs 3,170 per quintal.

Prices of Mawana and Sakoti slipped by Rs 40 each to Rs 3,200 and Rs 3,160 while Modinagar lost Rs 35 at Rs 3,185 and Dhampur eased by Rs 30 to Rs 3,150 per quintal.

Following are today's quotations (in Rs per quintal)