Sugar mill prices decline on oversupply

Sugar millgate prices declined up to Rs 30 per quintal in the wholesale market at the national capital today following persistent supplies from mills amid selective buying by stockists and bulk consumers.
However, sugar spot prices maintained overnight closing levels on some support from retailers.
Marketmen said regular arrivals from mills resulted in ample stock position in the market, which led to a fall in millgate prices.
Furthermore, need-based buying by stockists and bulk consumers such as soft-drink and ice-cream makers too weighed.
Sugar mill delivery prices enquired at Rs 2,410-2,590 and Rs 2,400-2,580, down Rs 10 per quintal each.

In the millgate section, the prominent losers were sugar Sakoti and Malakpur, which fell Rs 30 each to Rs 2,390 and Rs 2,410 per quintal, respectively.

Sugar Budhana and Thanabhavan shed Rs 15 each at Rs 2,460 and Rs 2,450 while Mawana, Dhanora and Anupshaher fell Rs 10 each to Rs 2,490, Rs 2,460 and Rs 2,410 per quintal, respectively.
Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 26.00-31.00 per kg.
Sugar ready: M-30 Rs 2,600-2,750 S-30 Rs 2,590-2,740.
Mill delivery: M-30 Rs 2,410-2,590 S-30 Rs 2,400-2,580.
Sugar millgate (including duty): Mawana Rs 2,490, Kinnoni Rs 2,580, Asmoli Rs 2,570, Dorala Rs 2,470, Budhana Rs 2,460, Thanabhavan Rs 2,450, Dhanora Rs 2,460, Simbholi Rs 2,590, Khatuli Rs 2,580, Dhampur 2,420, Ramala Rs 2,430, Bulandshaher Rs 2,430, Anupshaher Rs 2,410, Baghpat Rs 2,450, Morna Rs 2,450, Sakoti Rs 2,390, Chandpur Rs 2,420, Nazibabad Rs 2,420 and Malakpur 2,410.