Sugar falls on excess supply, weak demand

Sugar plunged by Rs 70 per quintal in the wholesale market at the national capital today following ample supply from mills amid need-based buying by stockist and bulk consumers.
Market experts said selling pressure from mills against selective buying by stockist and bulk consumers such as soft-drink and ice-cream makers on hopes of further fall in prices, mainly dampened the trading sentiment.
Sugar ready M-30 and S-30 prices dropped from Rs 3380-3600 and Rs 3370-3590 to finish at Rs 3360-3550 and Rs 3350-3540 per quintal.
Sugar mill delivery M-30 and S-30 prices slipped from Rs 3260-3465 and Rs 3240-3445 to end at Rs 3190-3400 and Rs 3170-3380 per quintal.

In millgate section, sugar Asmoli, Budhana, Thanabhavan, Dhanora, Modinagar and Dhampur plummeted Rs.70 each at Rs 3350, Rs 3270, Rs 3260, Rs 3250, Rs 3220 and Rs 3230 per quintal, respectively.
Prices of Mawana, Kinnoni, Simbholi, Khatauli, Bulandshar, Sakoti and Chandpur all lost up to Rs 60 per quintal at Rs 3310, Rs 3400, Rs 3380, Rs 3380, Rs 3260, Rs 3240 and Rs 3250 per quintal, respectively.

Following are today's quotations per quintal:
Sugar ready: M-30 Rs 3,360-3,550, S-30 Rs 3,350-3,540.
Mill delivery: M-30 Rs 3,190-3,400; S-30 Rs 3,170-3380.
Sugar mill gate (including duty): Mawana 3,310, Kinnoni 3,400, Asmoli 3,350, Dorala 3,350, Budhana 3,270, Thanabhavan 3,260, Dhanora 3,250, Simbholi 3,380, Modi Nagar Rs 3,220, Khatuli 3,380, Dhampur 3,230, Ramala 3,340, Bulandshar 3,260, Anupshar 3,320, Baghpat 3,350, Morna 3,340, Sakoti 3,240, Chandpur 3,250, Amroha N.T. And Nazibabad 3,330.