Sugar prices melt in pressure of bumper stock

Sugar prices softened by Rs 50 per quintal at the wholesale market in the national capital today amid ample ready stocks on relentless supplies from mills against limited offtake by bulk consumers.
Marketmen said adequate stocks following persistent supplies from mills led to the fall in the sweetener's prices.
Sugar ready M-30 and S-30 prices dropped by Rs 50 each to settle the day at Rs 3,610-3,800 and Rs 3,600-3,790 per quintal.
Mill delivery M-30 and S-30 prices settled lower by Rs 50 each to Rs 3,430-3,560 and Rs 3,420-3,550 per quintal.
In the mill gate section, the prominent losers were sugar Mawana, Dorala, Dhanora, Simbholi, Dhampur, Kinnoni and Chandpur losing Rs 50 each to Rs 3,470, Rs 3,475, Rs 3,520, Rs 3,535, Rs 3,430, Rs 3,560 and Rs 3,430 per quintal, respectively.

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

Sugar retail markets - Rs 37.00-40.00 per kg.
Sugar ready: M-30 Rs 3,610-3,800, S-30 Rs 3,600-3,790.
Mill delivery: M-30 Rs 3,430-3,560, S-30 Rs 3,420-3,550.
Sugar millgate (including duty): Mawana Rs 3,470, Kinnoni Rs 3,560, Asmoli Rs 3,535, Dorala Rs 3,475, Budhana Rs 3,490, Thanabhavan Rs 3,485, Dhanora Rs 3,520, Simbholi Rs 3,535, Khatuli Rs 3,555, Dhampur Rs 3,430, Ramala Rs 3,435, Anupshaher Rs 3,440, Baghpat Rs 3,445, Morna Rs 3,440, Sakoti Rs 3,450, Chandpur Rs 3,445, Nazibabad Rs 3,440, Modinagar 3,460, Shamli 3,465, and Nanota 3,430.