Sugar prices dip on mounting stocks, weak demand

Sugar recorded a steep fall of up to Rs 140 per quintal at the wholesale market in the national capital today largely dragged down by constant supplies from mills amid muted buying by stockists, retailers and bulk consumers.
Marketmen said, ample stocks position in the market largely on relentless supplies from mills after crushing session commencing as well as limited offtake by stockists and bulk consumers due to prevailing cash crunch, weighted on sweetener prices.
Sugar ready M-30 and S-30 prices dropped by Rs 140 each to end at Rs 3,780-3,860 and Rs 3,770-3,850 per quintal, respectively.
Meanwhile, sugar in retail market was trading between Rs 38 to Rs 41 per kilo.

Mill delivery M-30 and S-30 prices declined by Rs 30 each to conclude at Rs 3,460-3,600 and Rs 3,450-3,590 per quintal, respectively.
In the millgate section, sugar Simbholi and Modinagar fell by Rs 50 each to Rs 3,570 and Rs 3,500, followed by Mawana, Asmoli, Dorala, Khatuli and Dhampur by falling Rs 40 each to Rs 3,510, Rs 3,570, Rs 3,510, Rs 3,550 and Rs 3,460 per quintal.

Sugar Kinnoni, Thanabhavan, Dhanora, Ramala, Sakoti and Chandpur also slided Rs 3,600, Rs 3,520, Rs 3,510, Rs 3,450, Rs 3,480 and Rs 3,470 per quintal, respectively.
Following are today's quotations (in Rs per quintal)

Sugar retail markets - Rs 38.00-41.00 per kg.
Sugar ready: M-30 Rs 3,780-3,860, S-30 Rs 3,770-3,850.
Mill delivery: M-30 Rs 3,460-3,600, S-30 Rs 3,450-3,590.
Sugar millgate (including duty): Mawana Rs 3,510, Kinnoni Rs 3,600, Asmoli Rs 3,570, Dorala Rs 3,510, Budhana Rs 3,530, Thanabhavan Rs 3,520, Dhanora Rs 3,510, Simbholi Rs 3,570, Khatuli Rs 3,550, Dhampur Rs 3,460, Ramala Rs 3,450, Anupshaher Rs 3,450, Baghpat Rs 3,460, Morna Rs 3,460, Sakoti Rs 3,480, Chandpur Rs 3,470, Nazibabad Rs 3,450 and Modi nagar 3,500.