Sugar extends losses on higher supply

Sugar prices drifted lower in the wholesale sugar market in the national capital today on fall in demand from bulk consumers and stockists against ample stocks position on increased arrivals from mills.

Marketmen said, ample stocks on increased supplies from mills against reduced offtake by stockists and bulk consumers mainly kept the sweetener prices lower.

Sugar ready M-30 and S-30 slipped to Rs 3,450-3,560 and Rs 3,440-3,550 from previous levels of Rs 3,450-3,590 and Rs 3,440-3,590 per quintal, respectively.

Mill delivery M-30 and S-30 followed suit and quoted lower at Rs 3,150-3,340 and Rs 3,140-3,330 instead of Rs 3,170-3,340 and Rs 3,160-3,330 per quintal, respectively.

In the millgate section, Mawana, Kinnoni and Asmoli also enquired lower at Rs 3,200, Rs 3,240 and Rs 3,290 as compared to previous close of Rs 3,260, Rs 3,425 and Rs 3,390 per quintal, respectively.

Dorala, Budhana, Thanabhavan and Dhanora eased to Rs 3,200, Rs 3,230, Rs 3,225 and Rs 3,300 against last levels of Rs 3,410, Rs 3,420, Rs 3,420 and Rs 3,390 per quintal, respectively.

Simbholi, Khatauli, Dhampur and Malakpur, too, settled lower at Rs 3,300, Rs 3,310, Rs 3,170 and Rs 3,200 as against last close of Rs 3,420, Rs 3,460, Rs 3,280 and Rs 3,320 per quintal, respectively.

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