Sugar prices melt on bumper stock, low offtake

Sugar prices dropped by Rs 50 per quintal at the wholesale market in the national capital today following mounting of stocks on relentless supplies from mills amid selective buying.
Marketmen said ready stocks on constant arrivals from mills and bulk consumers such as soft-drink and ice-cream makers caused the fall in sugar prices.
Sugar ready M-30 and S-30 prices dropped by Rs 50 each to end the day at Rs 3,450-3,650 and Rs 3,440-3,640 per quintal.
Mill delivery M-30 and S-30 prices also declined by Rs 30 each to settle the day at Rs 3,240-3,415 and Rs 3,230-3,405 per quintal.

In the millgate section, sugar Mawana, Sakoti, Dorala and Modinagar dipped by Rs 35 each to Rs 3,300, Rs 3,280, Rs 3,300 and Rs 3,395 per quintal, respectively.
Sugar Kinnoni, Khatuli, Budhana, Ramala, Thanabhavan, Anupshaher, Baghpat, Morna, Nazibabad, Shamli and Nanota all fell by Rs 30 each to Rs 3,415, Rs 3,405, Rs 3,310, Rs 3,240, Rs 3,305, Rs 3,240, Rs 3,260, Rs 3,255, Rs 3,240, 3,305 and Rs 3,240 per quintal respectively.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 35.00-38.00 per kg.
Sugar ready: M-30 Rs 3,450-3,650, S-30 Rs 3,440-3,640.
Mill delivery: M-30 Rs 3,240-3,415, S-30 Rs 3,230-3,405.

Sugar millgate (including duty): Mawana Rs 3,300, Kinnoni Rs 3,415, Asmoli Rs 3,410, Dorala Rs 3,300, Budhana Rs 3,310, Thanabhavan Rs 3,305, Dhanora Rs 3,400, Simbholi Rs 3,405, Khatuli Rs 3,405, Dhampur Rs 3,290, Ramala Rs 3,240, Anupshaher Rs 3,240, Baghpat Rs 3,260, Morna Rs 3,255, Sakoti Rs 3,280, Chandpur Rs 3,280, Nazibabad Rs 3,240, Modinagar 3,315, Shamli 3,305, and Nanota 3,240.