Sugar prices dip on higher supply, weak demand

Sugar prices plummeted by Rs 55 per quintal at the wholesale market in the national capital today following ample stocks on persistent supplies by mills amid negligible buying by stockists and bulk consumers.
Marketmen said apart from reduced demand form abulk consumers, rising stocks following st eady inflow of supplies by mills, mainly led to fall in sweetener prices.
Sugar ready M-30 and S-30 prices dropped by Rs 50 each to end at Rs 3,950-4,000 and Rs 3,940-3,990 per quintal.
Mill delivery M-30 and S-30 prices also declined by Rs 40 each to settle at Rs 3,660-3,740 and Rs 3,650-3,730 per quintal.

In the millgate section, sugar Mawana and Dhanora fell sharply by Rs 55 to close at Rs 3,675 and Rs 3,660 followed by Dorala and Budhana by Rs 45 each to conclude at Rs 3,675 each per quintal.
Sugar Kinnoni, Asmoli, Thanabhavan, Dhampur, Sakoti, Chandpur and Modinagar also fell by Rs 40 each to Rs 3,740, Rs 3,700, Rs 3,670, Rs 3,660, Rs 3,670, Rs 3,650 and Rs 3,670 per quintal respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 41.00-45.00 per kg.
Sugar ready: M-30 Rs 3,950-4,000, S-30 Rs 3,940-3,990.
Mill delivery: M-30 Rs 3,660-3,740, S-30 Rs 3,650-3,730.

Sugar millgate (including duty): Mawana Rs 3,675, Kinnoni Rs 3,740, Asmoli Rs 3,700, Dorala Rs 3,675, Budhana Rs 3,675,Thanabhavan Rs 3,670, Dhanora Rs 3,660, Simbholi Rs 3,740, Khatuli Rs 3,740, Dhampur Rs 3,660, Ramala Rs 3,700, Anupshaher Rs 3,700, Baghpat Rs 3,720, Morna Rs 3,710, Sakoti Rs 3,670, Chandpur Rs 3,650, Nazibabad Rs 3,690 and Modinagar 3,670.