Sugar millgate prices down, hurt by supply pressure

Sugar millgate prices declined up to Rs 30 per quintal at the wholesale market here today following continued supplies by millers amid slackened demand from bulk consumers as well as retailers.
Marketmen said ample stocks position following sustained supplies from mills against slackened demand from bulk consumers mainly led to fall in sugar prices.
Sugar mill delivery M-30 and S-30 traded lower at Rs 2,185-2,285 and Rs 2,175-2,275, per quintal.
In millgate section, sugar Dhampur, Morna and Malakpur lost Rs 30 each at Rs 2,180, Rs 2,240 and Rs 2,180 per quintal.
Sugar Budhana, Thanabhavan, Ramala, Baghpat and Nazibabad also fell by Rs 20 each to Rs 2,200, Rs 2,190, Rs 2,240, Rs 2,260 and Rs 2,240 per quintal.

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

Sugar retail markets - Rs 25.00-30.00 per kg.
Sugar ready: M-30 Rs 2,320-2,425 S-30 Rs 2,310-2,410.
Mill delivery: M-30 Rs 2,185-2,285 S-30 Rs 2,175-2,275.
Sugar millgate (including duty): Mawana Rs 2,245, Kinnoni Rs 2,285, Asmoli Rs 2,220, Dorala Rs 2,230, Budhana Rs 2,200, Thanabhavan Rs 2,190, Dhanora Rs 2,220, Simbholi Rs 2,280, Modi Nagar Rs Not Traded, Khatuli Rs 2,275, Dhampur 2,180, Ramala Rs 2,240, Bulandshaher Rs 2,185, Anupshaher Rs 2,220, Baghpat Rs 2,260, Morna Rs 2,240, Sakoti Rs 2,210, Chandpur Rs 2,185, Nazibabad Rs 2,240 and Malakpur 2,180.