Sugar prices decline on excess stocks, weak demand

Sugar prices recorded a steep fall of Rs 90 per quintal in the wholesale market at national capital today following persistent supplies from mills and weak demand.
Marketmen said huge stocks position in markets following regular supplies from mills against subdued demand from bulk consumers consumers and reports of higher output in this marketing year, led to the fall in sweetener prices.
Besides, reports of falling prices in global markets on bumper cane crop output, particularly in largest producing country Brazil, weighed on domestic prices.
Sugar ready M-30 and S-30 prices tumbled by Rs 80 each to Rs 2,620-2,820 and Rs 2,610-2,810 per quintal.

Mill delivery M-30 and S-30 price also dipped by Rs 90 each to end at Rs 2,530-2,670 and Rs 2,520-2,650 per quintal.
In the millgate section, sugar Kinnoni and Simbholi dropped by Rs 90 each to Rs 2,670 and Rs 2,650, followed by Asmoli Rs 75 at Rs 2,660 per quintal.

Sugar Morna, Khatuli, Ramala and Baghpat fell by Rs 50 each to Rs 2,550, Rs 2,670, Rs 2,540 and rs 2,550, while Budhana and Thanabhavan shed Rs 45 each to Rs 2,570 and Rs 2,560 per quintal.
Prices of Mawana, Bulandshar, Dorala, Anupshar and Sakoti too drifted by Rs 40 each to Rs 2,560, Rs 2,550, Rs 2,560, Rs 2,530 and Rs 2,540 per quintal, respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 30.00-34.00 per kg.
Sugar ready: M-30 Rs 2,620-2,820 S-30 Rs 2,610-2,810.
Mill delivery: M-30 Rs 2,530-2,670 S-30 Rs 2,520-2,650.
Sugar mill gate (including duty): Mawana Rs 2560, Kinnoni Rs 2,670, Asmoli Rs 2,660, Dorala Rs 2,560, Budhana Rs 2,570, Thanabhavan Rs 2,560, Dhanora Rs 2,570, Simbholi Rs 2,650, Modi Nagar Rs 2,560, Khatuli Rs 2,670, Dhampur 2,540, Ramala Rs 2,540, Bulandshahr Rs 2,550, Anupshar Rs 2,530, Baghpat Rs 2,550, Morna Rs 2,550, Sakoti Rs 2,540, Chandpur Rs 2,540, Nazibabad Rs 2,540.