Sugar prices drop Rs 30/quintal as govt imposes stock limit

Sugar prices drifted lower by Rs 30 per quintal at the wholesale market in the national capital on Friday increased supplies after the government imposed stock limits on mills during the festival season till October-end.

The government on Thursday imposed stock limits on sugar mills during the festival season till October-end to check rising price of sugar which has crossed Rs 40 per kg.

Marketmen said increased supplies in the market from mills and slowdown in buying by bulk consumers,weighed on sweetener prices.

However, increased demand from retailers following beginning of month, capped the losses in sugar prices, they added.

Sugar ready M-30 and S-30 prices dropped by Rs 30 each to end at Rs 3,820-3,920 and Rs 3,810-3,910 per quintal, respectively.

Mill delivery M-30 and S-30 prices also softened by a similar margin of Rs 30 each to Rs 3,520-3,610 and Rs 3,510-3,600 per quintal, respectively.

In the millgate section, sugar Mawana, Kinnoni, Budhana, Sakoti, chandpur and Khatuli all fell by Rs 30 each to Rs 3,590, Rs 3,610, Rs 3,550, Rs 3,540, Rs 3,520 and Rs 3,590 per quintal, respectively.

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

Sugar retail markets - Rs 37.00-40.00 per kg.

Sugar ready: M-30 Rs 3,820-3,920, S-30 Rs 3,810-3,910.

Mill delivery: M-30 Rs 3,520-3,610, S-30 Rs 3,510-3,600.

Sugar millgate (including duty): Mawana Rs 3,590, Kinnoni Rs 3,610, Asmoli Rs 3,570, Dorala Rs 3,550, Budhana Rs 3,550, Thanabhavan Rs 3,550, Dhanora Rs 3,540, Simbholi Rs 3,610, Khatuli Rs 3,590, Dhampur Rs 3,510, Ramala Rs 3,580, Anupshaher Rs 3,570, Baghpat Rs 3,600, Morna Rs 3,600, Sakoti Rs 3,540, Chandpur Rs 3,520, Nazibabad Rs 3,580 and Malakpur Rs N.T.