Sugar eases on rising inventories, selling pressure

Sugar millgate prices declined by Rs 40 per quintal in the national capital today following huge ready stocks position on rising supplies.
Marketmen said heavy ready stocks position on ample supplies from mills mainly put pressure on the prices but some buying by stockists and bulk consumers including soft-drink and ice-cream makers for the ongoing summer season, limited the fall.
However, ongoing summer and marriage season demand somewhat managed to cap the heavy losses.
Sugar mill delivery M-30 and S-30 prices dropped from Rs 3,190-3,370 and Rs 3,170-3,360 to close at Rs 3,175-3,370 and Rs 3,155-3,360 per quintal, respectively.
However, sugar spot prices were well maintained at previous levels of Rs 3,350-3,550 and Rs 3,340-3,530 per quintal.

Among millgate section, sugar Dhanora fell by Rs 40 to Rs 3,210 per quintal, while Bulandshar and Chandpur prices slipped by Rs 35 each to Rs 3,185 and Rs 3,175 per quintal.

Following are today's quotations per quintal:
Sugar ready: M-30 Rs 3,350-3,540, S-30 Rs 3,340-3,530.
Mill delivery: M-30 Rs 3,175-3,370; S-30 Rs 3,155-3360.
Sugar mill gate (including duty): Mawana 3,300, Kinnoni 3,370, Asmoli 3,300, Dorala 3,320, Budhana 3,280, Thanabhavan 3,260, Dhanora 3,210, Simbholi 3,340, Modi Nagar Rs 3,220, Khatuli 3,320, Dhampur 3,190, Ramala 3,250, Bulandshar 3,185, Anupshar 3,210, Baghpat 3,260, Morna 3,250, Sakoti 3,190, Chandpur 3,175 and Nazibabad 3,240.