Sugar price dips on higher supply, weak demand

Sugar prices dropped by Rs 50 per quintal at the wholesale market in the national capital today largely dragged down by persistent supplies from mills amid limited offtake by stockists and bulk consumers.
Marketmen said, besides ample stocks higher supplies, fall in demand from stockists and bulk consumers following end of wedding season, mainly pulled down sugar prices.
Sugar ready M-30 and S-30 prices dipped by Rs 50 each to finish at Rs 3,980-4,050 and Rs 3,970-4,040 per quintal.
Mill delivery M-30 and S-30 prices also fell by Rs 40 each to end at Rs 3,660-3,760 and Rs 3,650-3,750 per quintal, respectively.

In the millgate section, sugar Dhampur, Mawana, Sakoti, Kinnoni, Chandpur, Asmoli, Khatuli and Modinagar slipped by Rs 40 each to Rs 3,660, Rs 3,690, Rs 3,660, Rs 3,760, Rs 3,660, Rs 3,730, Rs 3,740 and Rs 3,680, while Dorala dipped by Rs 35 to Rs 3,695 per quintal.
Sugar Budhana, Thanabhavan, Ramala, Baghpat and Morna also leaned down by Rs 25 each to Rs 3,695, Rs 3,690, Rs 3,710, Rs 3,725 and Rs 3,715 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 43.00-48.00 per kg.
Sugar ready: M-30 Rs 3,980-4,050, S-30 Rs 3,970-4,040.

Mill delivery: M-30 Rs 3,660-3,760, S-30 Rs 3,650-3,750.
Sugar millgate (including duty): Mawana Rs 3,690, Kinnoni Rs 3,760, Asmoli Rs 3,730, Dorala Rs 3,695, Budhana Rs 3,695,Thanabhavan Rs 3,690, Dhanora Rs 3,680, Simbholi Rs 3,740, Khatuli Rs 3,740, Dhampur Rs 3,660, Ramala Rs 3,710, Anupshaher Rs 3,710, Baghpat Rs 3,725, Morna Rs 3,715, Sakoti Rs 3,660, Chandpur Rs 3,660, Nazibabad Rs 3,710 and Modinagar 3,680.