Sugar price drops as crushing season begins

Sugar prices plunged by Rs 60 per quintal at the wholesale market in the national capital on Monday on increased supplies following a beginning of crushing season amid slackened buying by stockists and bulk consumers.

Marketmen said increased availability of sugar in the market following a beginning of a crushing season, mainly weighed on sweetener prices.

However, selective buying by bulk consumers and retailers capped the fall.

Sugar mill delivery M-30 and S-30 prices moved down from Rs 3,550-3,740 and Rs 3,540-3,730 to end at Rs 3,500-3,710 and Rs 3,490-3,700, showing a fall up to Rs 50 per quintal.

In the mill gate section, sugar morna dropped by Rs 60 to Rs 3,510, followed by baghpat and ramala by Rs 50 each to Rs 3,520 and Rs 3,510 per quintal.

Sugar Aanupshaher fell by Rs 40 to trade at Rs 3,520, while sakoti and Nazibabad were down by Rs 30 each to Rs 3,540 and Rs 3,510 per quintal.

On the other hand, sugar ready M-30 and S-30 prices enquired higher by Rs 100 each to conclude at Rs 4,000-4,300 and Rs 3,990-4,290 per quintal on speculators and retailers buying.

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

Sugar retail markets - Rs 41.00-45.00 per kg.

Sugar ready: M-30 Rs 4,000-4,300, S-30 Rs 3,990-4,290.

Mill delivery: M-30 Rs 3,500-3,710, S-30 Rs 3,490-3,700.

Sugar millgate (including duty): Mawana Rs 3,610, Kinnoni Rs 3,710, Asmoli Rs 3,640, Dorala Rs 3,610, Budhana Rs 3,620,Thanabhavan Rs 3,600, Dhanora Rs 3,550, Simbholi Rs 3,675, Khatuli Rs 3,680, Dhampur Rs 3,520, Ramala Rs 3,510, Anupshaher Rs 3,520, Baghpat Rs 3,520, Morna Rs 3,510, Sakoti Rs 3,540, Chandpur Rs 3,510, Nazibabad Rs 3,510, Modi nagar 3,595 and Malakpur Rs N.T.