Sugar prices plunge on ample supply

Sugar prices plunged by Rs 60 per quintal in the national capital today following increased stocks position against restricted buying.
Marketmen said apart from plenty of ready stocks, ample supply and reduced offtake by stockist and bulk consumers mainly pulled down sweetener prices.
Sugar ready M-30 and S-30 prices settled lower at Rs 3,000-3,225 and Rs 2,990-3,200 from Rs 3,000-3,240 and Rs 2,990-3,220 per quintal, respectively.
Similarly, mill delivery M-30 and S-30 prices slipped to close at Rs 2,800-3,000 and Rs 2,790-2,990 from Rs 2,825-3,040 and Rs 2,800-3,020 per quintal.
In millgate including duty section, prices of Simbholi fell by Rs 60 at Rs 3,130 per quintal, while Dorala lost Rs 55 at Rs 2,965 per quintal.

Sugar Ramala and Nazibabad dropped by Rs 45 each at Rs 2,820 and Rs 2,810 per quintal.

The following were today's quotations per quintal:
Sugar ready: M-30 Rs 3,000-3,225, S-30 Rs 2,990-3,200.
Mill delivery: M-30 Rs 2,800-3,000; S-30 Rs 2,790-2,990.
Sugar mill gate (including duty): Mawana 2975, Kinnoni 3,140, Asmoli 3,120, Dorala 2965, Budhana 2980, Thanabhavan 2980, Dhanora 2945, Simbholi 3,130, Modi Nagar Rs 2,940, Khatuli 2,820, Dhampur 2,910, Ramala 2,820, Bulandshar 2,915, Anupshar 2,800, Baghpat 2,830, Morna 2,820, Sakoti 2,840, Chandpur 2,905, Amroha 2,905 and Nazibabad 2,810.