Sugar prices drift on weak demand, excess supply

Sugar prices tumbled by Rs 120 per quintal in the national capital today in the absence of demand from stockists and bulk consumers amid selling from mills at existing higher levels.
Marketmen said reduced buying from stockist and bulk consumers at prevailing higher levels mainly brought down the sweetner prices.
They said increased selling from mills and weak trend in adjoining states further influenced the sentiment.
Sugar ready M-30 and S-30 prices slided from Rs 3400-3600 and Rs 3390-3590 to conclude at Rs 3280-3480 and Rs 3270-3470, showing a sharp fall of Rs 120 per quintal.
Similarly mill delivery M-30 and S-30 prices slipped to settle at Rs 3190-3400 and Rs 3170-3370 from Rs 3290-3480 and Rs 3270-3470, showing a fall of Rs 100 per quintal.

In millgate section, Sugar Khatuli and Dhanora lost Rs 100 each at Rs 3380 and Rs 3340 per quintal.

Asmoli, Simbholi, Bulandshar and Chandpur dropped by Rs 90 each at Rs 3360, Rs 3380, Rs 3330 and Rs 3320 per quintal respectively.
The following were today's quotations per quintal:
Sugar ready: M-30 Rs 3,280-3,480, S-30 Rs 3,270-3,470.
Mill delivery: M-30 Rs 3,190-3,400; S-30 Rs 3,170-3,370.
Sugar mill gate (including duty): Mawana 3,280, Kinnoni 3,400, Asmoli 3,360, Dorala 3,360, Budhana 3,340, Thanabhavan 3,310, Dhanora 3,340, Simbholi 3,380, Modi Nagar Rs 3,230, Khatuli 3,380, Dhampur 3,260, Ramala 3,360, Bulandshar 3,330, Anupshar 3,330, Baghpat 3,360, Morna 3,350, Sakoti 3,270, Chandpur 3,320, Amroha N.T. And Nazibabad 3,340.