Sugar ends lower on adequate stocks

Sugar prices ended lower at the wholesale market in the national capital today on ample stocks following higher supplies from mills.
Marketmen said sufficient stocks position on the back of increased supplies from mills mainly kept pressure on sugar prices.
Government's measures to check rising prices, weighed on the prices.
Meanwhile, the government said it will consider lowering import duty on sugar and banning exports of the sweetener if prices spike further from the current level.
With retail prices crossing Rs 40/kg, the government has taken several steps, including imposition of stock holding limits on sugar traders and withdrawal of sugar output subsidy of Rs 4.50/kg to mills, in the last few weeks to check the price rise.

Sugar ready M-30 and S-30 slipped to Rs 3,660-3,730 and Rs 3,650-3,720 from previous levels of Rs 3,690-3,760 and Rs 3,680-3,750 per quintal respectively.

Mill delivery M-30 and S-30 followed suit and eased to Rs 3,370-3,450 and Rs 3,360-3,440 against last close of Rs 3,400-3,480 and Rs 3,390-3,470 per quintal respectively.
Similar trend was extended to millgate section, Mawana, Kinnoni, Asmoli, Dorala and Budhana settled lower at Rs 3,430, Rs 3,450, Rs 3,450, Rs 3,430 and Rs 3,430 instead of Rs 3,440, Rs 3,480, Rs 3,450, Rs 3,430 and Rs 3,430 per quintal respectively.
Thanabhavan, Dhanora, Simbholi, Khatauli, Dhampur and Ramala finished weak at Rs 3,380, Rs 3,380, Rs 3,430, Rs 3,430, Rs 3,370 and Rs 3,380 against last close of Rs 3,420, Rs 3,410, Rs 3,470, Rs 3,470, Rs 3,410 and Rs 3,400 per quintal respectively.

In line with overall trend, Anupshaher, Bhagpat, Morna, Sakoti,Chandpur, Nazibabad and Malakpur too enquired lower at Rs 3,370, Rs 3,400, Rs 3,390, Rs 3,390, Rs 3,370, Rs 3,380 and Rs 3,390 as compared to previous levels of Rs 3,400, Rs 3,420,Rs 3,410, Rs 3,420, Rs 3,400, Rs 3,400 and Rs 3,410 per quintal respectively.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 32.00-40.00 per kg.
Sugar ready: M-30 Rs 3,660-3,730, S-30 Rs 3,650-3,720.
Mill delivery: M-30 Rs 3,370-3,450, S-30 Rs 3,360-3,440.
Sugar millgate (including duty): Mawana Rs 3,430, Kinnoni Rs 3,450, Asmoli Rs 3,430, Dorala Rs 3,410, Budhana Rs 3,390, Thanabhavan Rs 3,380, Dhanora Rs 3,380, Simbholi Rs 3,430, Khatuli Rs 3,430, Dhampur Rs 3,370, Ramala Rs 3,380, Anupshaher Rs 3,370, Baghpat Rs 3,400, Morna Rs 3,390, Sakoti Rs 3,390, Chandpur Rs 3,370, Nazibabad Rs 3,380 and Malakpur Rs 3,390.